Bitcoin Options Traders Are Taking Positions for Bitcoin to Rise! Here Are the Details
Bitcoin options traders have begun taking positions on the possibility of the price recovering towards the $90,000 level.
According to data shared by the blockchain derivatives analysis platform Derive, a trend of moving away from aggressive downward hedging strategies in the market is noteworthy. The analysis points to a possible stabilization and recovery process in Bitcoin.
According to the analysis, open positions in the March 27 call options are concentrated at strike prices of $80,000 and $90,000. This indicates that investors expect an upward movement in the coming weeks.
On the other hand, accumulated put (sell) options at strike prices of $60,000 and $55,000 also reveal a cautious approach towards downside risks. However, Derive notes that these positions indicate that a potential decline would be a limited correction rather than a panic sell-off.
Another factor supporting market dynamics has been the capital inflow into spot Bitcoin ETFs. Over $1 billion in net inflows into spot BTC ETFs have been reported in the last three days. Analysts believe that if macroeconomic uncertainties decrease, this capital inflow could trigger a new wave of price increases.
The current positioning in the options market suggests that investors are leaning towards cautious optimism.
*This is not investment advice.
