Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December

Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December


This past weekend, data shows the most active bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end. This means a number of options traders are betting the price of bitcoin will exceed the all-time high (ATH) the decentralized currency touched in December 2017.

On September 14, researchers from the data analytics firm Skew.com tweeted about an unusual number of call options for December 2020 that are well above the 2017 ATH.

Trending: Chris Wallace Gets Backlash from Fox News Colleagues over Debate Moderator Performance

“[December 2020] $28k, $32k, [and] $36k calls among the most active bitcoin options contracts yesterday,” Skew tweeted. All of these calls are well above the mid-December 2017 ATH, which saw BTC touch $19,600 per coin.

Chart Skew.com shared on Twitter on Monday, September 14, 2020.

The new open positions took place on the crypto-financial derivatives platform Deribit. The action took place after $570 million (notional) of BTC options contracts expired on Deribit on August 28.

There

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!