Summary
- According to on-chain data, Bitcoin (BTC) is reported to have options traders betting on a rise to over $130,000 despite its recent plunge.
- In derivatives markets such as Deribit, bets in the $140,000~$150,000 range by the end of the year amounted to about $1.7 billion.
- Bitfinex analysts judged that the options market's moves are due to market sentiment and speculative tendencies, and that price volatility could widen when macro data is released.
On the 15th (local time), digital asset (cryptocurrency) media DL News reported, citing on-chain data firm Glassnode, "Despite Bitcoin (BTC) having recently plunged, options traders are betting that BTC will exceed $130,000."
A similar trend was observed on derivatives exchange Deribit. Bets that BTC will trade in the $140,000~$150,000 range by the end of the year amounted to about $1.7 billion.
Bitfinex analysts said, "The recent movements in the options market appear to be the result of market sentiment and speculative tendencies rather than reasonable bets based on macroeconomic indicators," adding, "With macro data releases currently limited, the market may be somewhat vulnerable, and price volatility could widen if major economic indicators are released."
BTC is trading at $110,691.21 on the Binance Tether (USDT) market as of 00:46 on the 16th, down 1.42% from the previous day.
JH Kim
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