Traders on Deribit have locked in nearly $1 billion in call options at a $100,000 strike, signaling strong bullish sentiment in the Bitcoin market.
The $45,000 put is the most popular among U.S. elections expiry options, illustrating a divergence in trader sentiment as elections approach.
Crypto trading firm Wintermute noted that high open interest at $100K and $70K strikes supports the prevailing bullish sentiment in the market.
Options traders have demonstrated confidence in Bitcoin's potential price rallies, particularly with the popularity of the cheaper out-of-the-money $100,000 call options.
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