In light of these developments, there has been a significant increase in demand for Bitcoin call options on leading cryptocurrency exchange Deribit and its over-the-counter (OTC) networks. These options specifically target Bitcoin reaching new highs, potentially surpassing $75,000 or even reaching $100,000.

“We are seeing upward momentum in volatility and rates following the reversal rally from Friday into the weekend. Bitcoin risk reversals have been positive and there is renewed demand for $75,000 and $100,000 Bitcoin calls for September delivery,” QCP Capital said in a note on Monday. said.

OTC institutional cryptocurrency trading network Paradigm made a similar observation on Monday, noting that demand for calls, or expirations, with expiration dates well above market cap (OTM) has increased.

“The options market appears to have predicted a short-term upward move early this morning,” Paradigm said in a Telegram post. “The largest number of Bitcoin and Ethereum (ETH) transactions on Paradigm consist of OTM calls purchased in large quantities. The previous $200,000 March 25 futures We noticed that the call option buyer closed out his position and purchased the $85,000 expiration date of July 2024.” said.

Investors locked in over $688 million in $100,000 strike call options across different expiration dates, according to data from Deribit. This is the highest theoretical open interest of all options listed on the exchange. More than 150,000 call option contracts worth $9.5 billion are active on Deribit. This is more than double the open interest in put options, a sign of bullish market expectations.

Bitcoin’s recent rise and activity in the options market are causing investors to become optimistic about the future of the cryptocurrency. The $100,000 target is on the agenda again, but the continued market volatility and the impact of various macro-economic factors should not be ignored. Developments in the global economy and regulatory environment can significantly affect Bitcoin prices. These factors need to be closely monitored in the coming period.

Increasing adoption of Bitcoin and the involvement of traditional financial institutions in the cryptocurrency market may provide upward momentum for Bitcoin prices in the long term. However, it is important to remember that the cryptocurrency market is still a new field and has high volatility. It is important for investors to manage their risks well when entering this market and make investment decisions after doing their own research.