Bitcoin Options Traders Step Up Bets on Calls Above $90,000
Summary
- Bitcoin was trading around $83,238, while the options market was seeing bigger bets on call options above $90,000.
- Demand for call options with $90,000, $95,000 and $100,000 strike prices is rising in the Bitcoin options market, making them key levels to watch.
- Spot Bitcoin exchange-traded funds (ETFs) posted net inflows for eight straight trading days, with $31 million in inflows the previous day, signaling that demand for further gains is continuing.
Forecast Trend Report by Period
Bitcoin was trading around $83,238 as the options market showed growing demand for bets on a rise beyond $90,000.
Walter Bloomberg reported on September 29 that demand is increasing in the Bitcoin options market for call options with a $90,000 strike price. The $95,000 and $100,000 strike prices are also emerging as key levels.
Institutional fund flows have also improved. Spot Bitcoin exchange-traded funds posted net inflows for an eighth straight trading day, with $31 million added the previous day.
That suggests demand for further gains is persisting in the options market even as short-term sentiment toward Bitcoin has weakened.
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