CandleFocus Bitcoin $100K Bullish Bet Draws Nearly $1B Open Interest on Deribit
2024-10-01
Author: Content Editor
Traders have locked in nearly $1 billion in call options at a $100,000 strike price on crypto exchange Deribit, showing strong bullish sentiment in the bitcoin market. The $70,000 call option is also popular, with call options accounting for over 50% of the total BTC options open interest on the exchange. Ahead of the U.S. election results, traders are seeking downside hedges, with the $45,000 put option being the most popular. However, traders on decentralized betting platform Polymarket see a low probability of bitcoin reaching $100,000 by the end of the year, but just over a 50% chance of surpassing the record high of $73,798.
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