Tomorrow, over $5 billion worth of Bitcoin options will expire, potentially leading to price fluctuations. According to Deribit CEO, the demand for call options indicates a bullish market sentiment.
Expected Price Fluctuations
Analysts say the expiration of options could cause price fluctuations in Bitcoin. Deribit CEO Luuk Strijers noted an increase in demand for call options, indicating a bullish sentiment among traders.
Bets on Price Increase
Speaking to DL News, Deribit CEO stated that Bitcoin options traders are increasingly betting on higher prices. He also mentioned that bull call options are becoming more expensive than bear bets. "Option traders expect Bitcoin to bounce after the option expiration on September 27. Investors expect the price to reach $100,000 by December 27."
Short-term Volatility
Luuk Strijers also pointed out that the recent approval of BlackRock's IBIT options by the SEC is seen as a bullish catalyst for Bitcoin. The Deribit CEO noted that BTC options could cause short-term volatility but expects it to be temporary with support from spot Bitcoin ETFs in the coming months.
Thus, the expiration of more than $5 billion in options could lead to significant price fluctuations in Bitcoin in the coming days despite the bullish sentiment among investors.
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