Recently, there has been a large amount of buying of call options in the Bitcoin options market with a strike price exceeding $74,000, set to expire in June. Analysts speculate that many investors are betting on Bitcoin prices exceeding $74,000 by the end of this month. QCP Capital analysts expressed on social media that, according to data from the derivatives exchange Deribit, the call options with a strike price of $75,000 have the largest open interest among the Bitcoin options expiring at the end of June, with a notional value of $920 million.
Additionally, on Wednesday, the call options with a strike price of $80,000 saw the highest trading volume on Deribit, with a total of 1723 contracts traded, representing a notional value of over $123 million. According to the contents of this week’s GTRadar weekly report, the increase in ETF fund inflows seems to be evidence of institutional demand picking up, but whether this demand can continue to grow will depend on whether Bitcoin can break through key resistance levels and the results of this week’s non-farm payroll data.
Stocklytics analyst Neil Roarty also shared similar views, stating during an interview:
