Bitcoin Traders Bet $42.5 Billion on 100% Price Surge

Options traders have placed a record $42.5 billion in bets on Bitcoin (BTC) rallying higher, marking a significant milestone in the cryptocurrency market. This substantial investment in call options, particularly those with higher strike prices, indicates a strong bullish sentiment among traders. The most traded strikes in the past 24 hours were $120,000 and $130,000 upside calls, suggesting that traders are anticipating a continued upward trajectory for Bitcoin. The highest open interest now sits at the $110,000, $120,000, and $300,000 June calls, further emphasizing the optimism surrounding Bitcoin's future price movements.

The record-breaking open interest in Bitcoin options reflects the growing confidence among traders in the cryptocurrency's potential for further gains. This bullish sentiment is driven by several factors, including the recent price surge and the increasing institutional interest in Bitcoin. Traders are betting on higher prices, with many eyeing the next bull target for BTC. The aggressive pursuit of upside through higher strike call options underscores the market's expectation of a sustained rally in Bitcoin's value.

The record $42.5 billion in options open interest on Deribit highlights the significant interest and investment in Bitcoin's future price movements. This level of open interest is unprecedented and indicates a high level of market participation and speculation. The focus on higher strike call options suggests that traders are not only confident in Bitcoin's short-term gains but also in its long-term potential. The highest open interest at the $110,000, $120,000, and $300,000 June calls further supports this view, as traders are positioning themselves for substantial price increases in the coming months.

The record-breaking options open interest in Bitcoin is a clear indication of the market's bullish sentiment and the growing confidence in the cryptocurrency's future price movements. Traders are aggressively pursuing upside through higher strike call options, with the most traded strikes being $120,000 and $130,000. The highest open interest at the $110,000, $120,000, and $300,000 June calls further emphasizes the market's expectation of a sustained rally in Bitcoin's value. This record-breaking investment in Bitcoin options reflects the growing institutional interest and the market's optimism surrounding the cryptocurrency's potential for further gains.