Bitcoin call options ahead of February's end-of-month expiry are concentrating at strike prices above the $50,000 mark.
Bitcoin call options ahead of February's end-of-month expiry are concentrating at strike prices above the $50,000 mark, even as the price of the world's largest cryptocurrency by market capitalization declined below that threshold on Tuesday amid new inflation data coming out of the U.S.
There is a notable concentration of open bitcoin call options at strike prices of $60,000, $65,000, and $75,000 leading up to the end-of-month expiry on February 23, according to Deribit data. "The strike price with the second highest open interest is $60,000 and the current day second highest options contract in terms of volume traded is bitcoin call options with a strike price of $75,000 for the June 24 expiry," said Bitfinex Head of Derivatives Jag Kooner.
Kooner added that as the market attempts to move past the crucial $50,000 psychological level, many long-term bullish traders are purchasing these cheap call options with strike prices much higher than current bitcoin prices.Bitcoin call options ahead of February's end-of-month expiry concentrate at strike prices above the $50,000 mark. Image: Deribit.
"The current overall open interest spread is biased towards calls at a 0.47 put-call ratio. The overall market put-call ratio in the past 24 hours is 0.60. A ratio of 0.59 based on options expiring on February 23 extend the current trend," he added.A put-call options ratio below one indicates that the call volume exceeds the put volume, signifying bullish sentiment in the market.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amid a staffing crunch, Austin police officers raked in nearly $50 million in overtime moneyScores of Austin police officers earned six figures in overtime last year. Is that sustainable?
Read more »
GoMining Introduces Liquid Bitcoin Hashrate to Lower Entry Barrier for Bitcoin MiningGoMining has introduced Liquid Bitcoin Hashrate (LBH) to make bitcoin mining more accessible by allowing holders to own a share of computing power that mines BTC daily, bypassing the complexities of building and maintaining a mining farm.
Read more »
Bitcoin Tops $47K as Spot Bitcoin ETFs Book One of Their Best DaysKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Read more »
Ring’s cheapest subscription plan is going up by $1 a monthStarting next month, a Ring Protect Basic subscription will cost $5 a month or $50 a year to view recorded video from a single video doorbell or security camera.
Read more »
Oil Megadeals Keep Coming After Exxon, Chevron Open FloodgateDiamondback Energy and Endeavor Energy Resources are nearing a merger creating an oil-and-gas giant worth more than $50 billion, The Wall Street Journal...
Read more »
Shocking Bitcoin Move Nets Investor $13.5M in Just DaysA cryptocurrency investor netted $13.5 million in just four days, capitalizing on Bitcoin's price volatility
Read more »