The leading cryptocurrency Bitcoin (BTC) broke a new record by exceeding $ 111,000 after its rally last week. However, it has since experienced some pullback and is now in a consolidation process.
While investors are wondering whether the rally will continue, Deribit data shows that bullish expectations dominate the market.
According to Deribit data, the $300,000 Bitcoin call option expiring on June 27 was the most popular bet, as the hypothetical open interest for the $300,000 call option rose above $600 million, compared to $484 million three weeks ago.
Speaking to Coindesk, Lin Chen, Head of Business Development for Deribit Asia, said:
“The $300,000 Bitcoin call option with an expiration date of June 27 emerged as the option with the highest open interest. This shows that investors’ rally expectations continue.”
The $300,000 call option, which expires on June 27, would represent a three-fold increase in Bitcoin’s price from its current price of around $110,000 by the end of the first half of 2025.
Although the $300,000 estimate may seem a bit odd considering that there are about four weeks left in the first half of the year, Chen noted that investors have recently been targeting more upside in short-term options.
This trend among investors points to a growing appetite for bullish bets, according to Chen.
Finally, Lin Chen, who also touched on the Bitcoin 2025 Conference to be held in Las Vegas from May 27-29, said, “The three-day Bitcoin 2025 conference will start today in Las Vegas, and therefore people are speculating about what big announcements will be made at the event. Therefore, the bullish expectation continues.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/options-whales-in-bull-mode-expecting-incredible-bitcoin-btc-high-in-four-weeks/