Bitcoin marketThe year 2026 started with strong optimism on the derivative products front. In the first days of the year, investors tended to take aggressive positions in the options market with the expectation that the price would move to six-digit levels. Especially the concentration seen in call options with a January expiration date and a strike price of $100,000 gives important signals about the short-term direction of the market. Increasing open positions and funding rates reveal that professional investors are preparing for an upward scenario.
Focus in Options Market on $100,000
The world’s largest cryptocurrency options exchange in terms of trading volume and open position in the first week of 2026 Deribit There was a remarkable movement. Demand for call options with a strike price of $100,000 with a January expiration date has increased significantly since Friday. For those who don’t know, a call option gives the investor the right to purchase the asset at a pre-fixed price on a specified date, while these contracts BitcoinIt reflects the expectation that ‘ will rise above the said level.
market maker wintermuteWintermute representative serving as OTC strategist at Jasper DeMaereHe stated that most of the transactions were focused on position movement and renewal, but there was a significant increase in interest in $100,000 options with an expiration date of January 30, 2026.
Data provider amberdataAccording to data provided by , the number of open contracts in the option in question in the last 24 hours alone is 420. BTC It increased. While this increase corresponded to a new nominal position of approximately 38.8 million dollars, it was recorded as the fastest growth among call options with a January expiration date.
Signals Strengthening the Upward Expectation in Derivative Data
The concentration in the options market shows that the optimism that prevailed throughout 2025 carries over to 2026. Last year investors had strike prices ranging from $100,000 to $140,000 call optionsBy opting for , he priced in long-term bullish scenarios. According to data from Deribit Metrics, the total nominal open position of options with a strike price of $100,000 increased to $1.45 billion, while $828 million of this consists of contracts with January expiry only.
According to market strategists, this trend could accelerate further if the spot price settles above the $94,000 level. Singapore-based cryptocurrency trading company QCP CapitalHe noted that funding rates on Bitcoin perpetual futures have risen above 30 percent and market makers have become more sensitive to upward movements. This structure creates a basis that can trigger additional hedging transactions on the options and futures side as the spot price rises.
Bitcoin gained approximately 5 percent in value in the first five days of the year, rising above $93,000, albeit for a short time. Analysts agree that if the price exceeds the $94,000 threshold, this positioning in derivative markets may turn into a harsher momentum.
