Important points
- Glassnode data shows that premiums in the Bitcoin options market are concentrated between $115,000 and $130,000, indicating strong bullish expectations.
- Option traders are increasingly buying calls at these higher strike prices, betting on the potential for a big rally in Bitcoin.
Glassnode data shows that Bitcoin options market activity is concentrated around the $115,000 to $130,000 premium level, reflecting traders' positioning for the potential for significant upside.
This concentration of rising strike prices indicates continued bullish sentiment among options traders despite recent market volatility. Bitcoin options positioning is dominated by call buying and has shifted towards higher strike amounts, indicating that traders are actively betting on the price to rise through call buying.
Reflecting a more sophisticated approach to risk management in the options market, institutional investors are increasingly adopting put hedging during Bitcoin's rise. This hedging behavior suggests that institutional investors view market drawdowns as opportunities to adjust leverage rather than bearish signals.
