"Bitcoin (BTC), $100,000 Call Options Surge... Is the Bullish Bet Reigniting?"

As Bitcoin (BTC) recovers to the $84,000 level, bets on Bitcoin's rise are surging in the virtual asset (cryptocurrency) derivatives market.

On the 14th, the virtual asset specialized media CoinDesk reported, "The size of call options betting that Bitcoin will reach $100,000 has surged to $1.2 billion on Deribit, the world's largest virtual asset derivatives exchange." Recently, Bitcoin has shown a rebound following U.S. President Donald Trump's tariff deferral announcement, recovering from last week's low of around $75,000 to over $84,000.

Some traders are observed to be expanding their bullish bets by heavily purchasing call options in the $85,000 to $100,000 range. According to the distribution of open interest in options on this day, the demand for call options is concentrated in the $95,000 to $120,000 range.

According to market data analysis firm Amberdata, the volatility skew in the Bitcoin options market, which showed a strong put option bias until last week, has recently turned positive. This suggests that market sentiment is in a recovery phase. The skew is recording values above 0 on the 30-day, 60-day, and 90-day bases, indicating that investors are leaning more towards a rise than a fall.

However, the possibility of a short-term correction due to a sharp rise in spot prices is also raised. Deribit added, "We must also consider the possibility of a correction after a short-term surge in spot prices."

Meanwhile, a call option refers to the right to buy a specific underlying asset at a predetermined strike price. A call option buyer can exercise the option if the market price of the underlying product is higher than the predetermined strike price at expiration, gaining the difference as profit. Conversely, a put option refers to the right to sell an asset at a predetermined strike price.

Skew refers to the difference in implied volatility between call options and put options. A positive skew value indicates that call options are favored over put options, while a neutral or near-zero skew value indicates that demand for bullish and bearish bets is balanced.