Bitcoin on record: Is now the perfect time to invest?

In recent days, Bitcoin has once again hit record highs, prompting investors to question whether it is too late to enter the market. However, the options market is signaling optimism. According to Luuk Strijers, managing director of the crypto derivatives exchange Deribit, crypto derivatives traders are betting on further price increases. The data shows that the open interest for call options expiring on December 27, at around 79,216, is significantly higher than that for put options, which is around 39,505. This suggests that investors are betting on a rise in the price of Bitcoin, particularly a value of $100,000 by the end of the year.

For options expiring on March 28, 2024, open interest for call options is approximately 40,632, which is more than 170 percent higher than that of put options (14,680). Here too, call options with strike prices of $100,000 to $120,000 are showing the greatest interest. Fundstrat’s Sean Farrell points out that while there could be a short-term consolidation, there are no signs of the market being overvalued.