Analysis: Options data shows that BTC could rise above $74,000 by the end of the month
QCP Capital analysts said that recently, the strike price of bitcoin call options expiring in June exceeded $74,000, and the large number of purchases has led analysts to speculate that many investors are betting that the price will rise above $74,000 by the end of the month.
Analysts at QCP Capital said: "Our trading desk saw a strong bullish follow-up with a large number of bitcoin call options calls expiring in June, indicating that the options market will decisively break through the all-time high of $74,000 this month."
According to the Deribit derivatives exchange, the largest group of unpositioned squaring contracts for bitcoin options expiring at the end of June were calls with a strike price of $75,000. Additionally, the most traded call option on Deribit on Wednesday was a call option expiring at the end of June with a strike price of $80,000, totaling 1,723 contracts with a notional value of more than $123 million.