The price of Bitcoin (BTC) exceeded $ 110,000 for the first time in its history marking a new historical maximum. This milestone promoted an unprecedented activity in the Deribit options market, the largest cryptocurrency derivatives of the world.
In the last 24 hours, the most negotiated contracts in Deribit were the purchase options with exercise prices of USD 120,000 and $ 130,000, with an open interest concentrated in the USD 110,000, USD 120,000 and $ 300,000 dollars for the expiration of June 27. This movement suggests that speculators They anticipate a sustained bitcoin rally in the short and medium term.
Likewise, the total open interest in Bitcoin and future perpetual options reached a record of more than 45,000 million dollars (Although then corrected the USD 36,000 million), which underlines the growing interest in Bitcoin derivatives, as can be seen in the Coinglass graph below:
This increase in the activity coincides with the recent performance of Bitcoin, which has exceeded historical price barriers and attracted the attention of institutional and retail investors.
Bitcoin’s historical maximum above $ 110,000 responds to a combination of factors. Institutional investment has grown, with large funds and companies incorporating Bitcoin into its portfolios as a value reserve. In addition, retail interest has increased. To this are added favorable macroeconomic contexts, such as the truce in the US trade war. And China, have also contributed to this ascent. As cryptootics reported, this increase in the price of Bitcoin reflects an organic dynamic marketmore than a movement driven by the fear of being left out (Fomo).
Looking to capitalize on Bitcoin’s impulse
In that sense, traders in Delibit are positioning themselves to capitalize on this impulse. Purchase options with targets of 120,000 and $ 130,000 for nearby maturities They show a confidence that Bitcoin will continue his ascending career.
In fact, the Put/Calls ratio is currently 0.38, which reflects a strong bullish feeling For the price of BTC, which has increased sustainably so far this week. This, since, for every 100 purchase options contracts, there are only 38 sales options, either in negotiated volume or open interest.
This relationship is a key indicator in derivative markets because it measures the proportion between the volume or open interest of sales options and purchase options.
In addition, the open interest concentration at high price levels, such as $ 300,000 for June, indicates that some investors They are exploring ambitious scenarios for the price of Bitcoinalthough these represent a minority within the total volume.
The activity in Deribit not only highlights optimism around Bitcoin, but also the maturity of the cryptocurrency market. Derivatives allow investors to manage risks and speculate more accurately about price movements.
Remember that the option market serves as a Key indicator of investors’ expectations on the future price of Bitcoin. The options are contracts that give the holder the right, without obligation, to buy or sell an asset at a fixed price on a future date. The purchase options, or “calls” reflect bets for an increase in the price, while the sales options, or “puts”, act as protection against falls.
Delibit dominates the cryptocurrency options, representing about 80% of the global activity in this segment. The platform also offers operations in perpetual and cash markets.