Bitcoin-at-$100,000 forecasts are looking more realistic in the options market
economictimes.indiatimes.com
The largest cryptocurrency jumped to another all-time high of more than $70,000 on Friday, capping a seven-week run of more than 70%.
In the options market, the open interest, or the number of outstanding contracts, for call options with strike prices of $80,000 and $100,000 has jumped around 12% each in the last 24 hours, according to data compiled by Amberdata.
“I think $80K by end of month is not crazy,” said Leo Mizuhara, founder and chief executive of decentralized-finance institutional asset management platform Hashnote. “I just think the FOMO players are coming in soon. ETFs have opened up the space to even more retail.”
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The latest shifts in positioning raises the possibility of a more sustained rally than during the runup on Tuesday, when the digital asset breached its previous record high set in late 2021. Lower volatility and leverage, as seen in the options and futures markets, suggest that Friday’s price move was more driven by demand from the spot market. Retail investors tend buy tokens in the cash market rather than
