More than $5 billion worth of options will expire tomorrow in Bitcoin. While analysts say the expiration of options could cause price fluctuations, Deribit CEO Luuk Strijers said that demand for Bitcoin call options has increased, indicating bullish momentum.
Options Traders Expect Bitcoin to Reach $100K by December 27!
Speaking to DL News, Deribit CEO said that Bitcoin options traders are increasingly betting on higher prices, and bull call options are becoming more expensive than bear bets.
Stating that Bitcoin option investors are turning to higher prices, Strijers said that investors expect Bitcoin to rise after the option expiration on September 27.
The famous CEO, who stated that he expected the $5 billion options in December to be the biggest of the year after the options on September 27, said, “The most traded options on Deribit were those that bet that Bitcoin would exceed $100,000 by December 27.”
“Option traders expect Bitcoin to bounce after the option expiration on September 27.
Investors expect the price to reach $100,000 by December 27.”
Finally, the Deribit CEO also noted that the SEC’s recent approval of BlackRock’s IBIT options is also seen as a bullish catalyst for Bitcoin.
Deribit CEO recently stated that BTC options could cause short-term volatility, but he said that the volatility would be short-term and that he expected an increase with support from spot Bitcoin ETFs in the coming months.
*This is not investment advice.