The cryptocurrency market continues to be affected by recent geopolitical events, yet interest in Bitcoin options remains strong.
Market Situation
Following the announcement of U.S. strikes on Iranian nuclear sites, Bitcoin's price fell below $100,000, hitting $98,200 and temporarily losing $40 billion in market capitalization. Currently, the cryptocurrency is trading around $101,000. Despite the volatility, open interest in Bitcoin options surged to a record $51 billion, indicating high interest from market participants.
Investor Hedging Strategies
The most popular positions reveal the complexity of strategies deployed by institutional traders. Some contracts anticipate Bitcoin dropping to $95,000 by June 27, while others expect it to rise to $105,000 by July 11. This duality illustrates investors' approach to protecting against short-term shocks while maintaining medium-term optimism.
Optimism Among Institutional Traders
On the Deribit platform, the ratio of calls to puts stands at 59.73% to 40.27%, indicating that professional traders are still betting on a recovery. The situation for Ethereum is similar, with 67.39% calls versus 32.61% puts, reflecting confidence in further growth.
Despite short-term fluctuations and the drop in Bitcoin's price, many traders continue to tie their hopes to a future recovery, confirming resilience and optimism in the market.
