As we noted with the launch of BTC Option a month ago
Bitcoin traders are buzzing as the largest-ever options expiry, totaling over $14 billion, takes place on December 27. This milestone is fueling speculation that a major rally could be just weeks away.
According to crypto derivatives platform Deribit, the most popular bet is a call option that pays off if Bitcoin hits $90,000. Investors have poured $730 million into this wager alone. If Bitcoin surpasses $95,000, over $4 billion in options will be “in the money,” allowing traders to profit from the price difference.
While Bitcoin has been in a lull recently, with double-digit losses since the Federal Reserve’s hawkish outlook dampened enthusiasm, some see the record-breaking options volume as a bullish signal. Renowned crypto investor Mike Alfred predicts a significant move could push Bitcoin from the low $90,000s to $120,000 or higher.
Senior analyst James Van Straten advises patience amid ongoing market volatility. “At the start of the year, I’d have been thrilled with anything above $84,000,” he noted.
As traders brace for the expiry’s impact, all eyes are on Bitcoin’s next move. Could this be the spark for a new all-time high? Time will tell!
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