Bitcoin Options Traders Ramp Up Bets on Calls Above $90,000
JH Kim
Summary
- Bitcoin was trading around $83,238 as bets on a rise above $90,000 expanded in the options market.
- Demand is increasing in the Bitcoin options market for call options with strike prices of $90,000, $95,000 and $100,000, putting those levels in focus.
- Spot Bitcoin exchange-traded funds (ETFs) posted net inflows for eight straight trading days, signaling improved institutional flows, while the options market continued to show demand for further upside despite weaker short-term sentiment.
Forecast Trend Report by Period
Bitcoin was trading around $83,238 as bets on gains beyond $90,000 gathered momentum in the options market.
Walter Bloomberg reported on September 29 that demand is rising in the Bitcoin options market for call options with a $90,000 strike price. The $95,000 and $100,000 strikes are also emerging as key levels in focus.
Institutional fund flows are also showing improvement. Spot Bitcoin exchange-traded funds logged net inflows for an eighth straight trading day, with $31 million entering the funds a day earlier.
That suggests demand for further upside in the options market is persisting even as short-term sentiment toward Bitcoin has weakened.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.