Bitcoin's options market has grown into a crucial barometer for predicting market sentiment and volatility. The significant open interest (OI) at the $120,000 strike price, surpassing $640 million on Deribit alone, has captivated traders’ attention, hinting at speculative optimism for sharp price increases. What makes this especially intriguing is the delta analysis — an options metric that sheds light on the likelihood of these bold bets succeeding. With a delta of 0.10, what probability do traders really assign to Bitcoin soaring to this lofty level by year's end? Intrigued?
Options traders bet big on Bitcoin reaching $120K despite low odds Options traders bet big on Bitcoin reaching $120K despite low odds
High open interest at $120,000 strike price shows the market is betting on a big finish for Bitcoin in 2024.
3 min read
Updated: Dec. 17, 2024 at 11:40 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Deribit
Deribit is an institutional grade cryptocurrency derivatives platform that is a leader in the crypto options market.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
CME Group
CME Group is a global markets company empowering participants to efficiently manage risk and capture opportunities in every major asset class..
