Home Cryptocurrency Bitcoin at $50,000; Whats Next?

Bitcoin at $50,000; Whats Next?

by SuperiorInvest

Cryptocurrency traders are snap Cheap, out-of-the-money (OTM) bitcoin calls are at levels close to the cryptocurrency's all-time high of $69,000. Over the weekend, many call options with strike prices of $65,000, $70,000, and $75,000 changed hands on Deribit, the leading crypto options exchange by volumes and open interest. On Deribit, one options contract represents one BTC. Call options give investors the right to buy the underlying asset at a specific price on a certain date, while put options give the right to sell. A call buyer is implicitly optimistic in the market. The massive buying at higher strike prices reflects a bullish mood among sophisticated market participants. “We see a concentration of open interest in $50,000 calls and have seen flows in $50,000, $60,000 and $75,000 calls in listed options markets with maturities from April to June,” Kelly Greer, head of sales, told CoinDesk. of Galaxy in America. In an interview.

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