Bitcoin $99,020.7 market and the rest of the cryptocurrency market regained upward momentum with the increasing interest in options targeting $110,000 and $120,000 on the Deribit derivatives exchange. Data shows that the largest cryptocurrency is currently in an upward trend.
There is Great Interest in Options Priced at 120 Thousand Dollars
Deribit Investors on the market are particularly focused on call options with a target of $120 thousand. The total open interest size of these options has now reached $1.52 billion. The put-call ratio for all maturities on Deribit decreased to 0.24. This ratio shows that investors are mainly bullish.
amberdataAccording to the report of Donald Trump‘s US presidential inauguration on January 20 may also increase this optimism. The report stated, “Trump’s inauguration may be an opportunity for positive announcements that could push Bitcoin even higher.”
Over the weekend, on Saturday, an investor spent more than $6 million on Deribit for call options with a $100,000 target due in March 2025. Amberdata stated that this transaction reflects confidence that Bitcoin will reach six-digit levels again in the coming months.
Corporate Investments Support the Market
US based Bitcoin ETFIt recorded inflows of $900 million last week, marking the return of institutional investors to the market. Fidelity‘s FBTC is $357 million, BlackRock‘s IBIT is $252 million and Ark Invest‘s ARKB received an investment of 222 million dollars.
Bitget Research Chief Ryan Leepredicts that Bitcoin will trade between $92,000 and $110,000 by January 20. “This range was determined by considering market liquidity and derivative transactions,” Lee said. However, analysts warn that Bitcoin may decline again after Trump takes office.
Former BitMEX CEO Arthur HayesHe stated that it is difficult for Trump to take concrete steps towards cryptocurrencies in the short term. “This reality could trigger a sharp selloff in the market,” Hayes warned.
The current activity in the Bitcoin market continues to attract the attention of both individual and institutional investors. Especially high target options reveal how optimistic market expectations are.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
