"Per CF Benchmarks' data, the 30-day constant maturity 25 delta skew has now breached the 5 vol threshold, a near YTD high, which implies that there is much greater demand for upside exposure," Thomas Erdösi, head of product at CF Benchmarks, told CoinDesk in an email. This indicates that traders are showing increased interest in bullish positions as they anticipate further price rises.
"A positive reading, in this case, the 5 vol threshold, indicates that calls are pricier than puts, meaning traders are preparing for BTC to rise even further." This is a significant shift in market sentiment, highlighting the bullish outlook for Bitcoin among traders in the CME and Deribit.
"Bitcoin traders appear to be scooping up the $100,000 call option on the CME, CF Benchmarks told CoinDesk." This trend reflects a broader confidence in Bitcoin's price trajectory, suggesting that institutional investors are betting heavily on sustained price increases.
"The bullish positioning is consistent with the offshore giant Deribit, where traders have been piling into the $100,000 call option since at least late September." This accumulation of bullish options indicates a strong belief in Bitcoin's upward momentum across multiple trading platforms.
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