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Bullish bets soar as Bitcoin call options target $120K strike
Open interest on Bitcoin options is painting a telling picture of market sentiment. With call options heavily concentrated at $120,000, $100,000, and $110,000—far above the current price of $81,220—traders are clearly bullish, betting on a sharp upward move.
While the majority of traders seem to be envisioning a significant upside, there is an interesting dynamic playing out. The bulk of put options huddle around $80,000, possibly signaling caution or hedging strategies. However, it’s essential to understand that this concentration of put options might not necessarily be a contrarian indicator.
Now, let’s dive deeper into the “max pain” point, which could potentially shape Bitcoin’s near-term future.
Source: https://cryptoslate.com/bullish-bets-soar-as-bitcoin-call-options-target-120k-strike/
