Options traders bet on Bitcoin at the end of April to stand at $80,000 per coin.

Options traders bet on Bitcoin at the end of April to stand at $80,000 per coin.

2021/3/31

The financial blog Zero Hedge stated that it was previously reported that Paypal would launch "crypto payments," with supported cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Also, CME Group announced plans to launch a new Bitcoin derivative product that would enable traders to speculate on some units of Bitcoin, the flagship digital currency. This news also boosted Bitcoin prices. Perhaps this is one of the reasons why Bitcoin options traders began to build a large number of call options positions, betting that the cost will exceed $80,000 by the end of April. And some traders believe that the price of Bitcoin will more than double in the next five weeks. According to the data aggregation website Skew, probability estimates based on contract market data on April 30 show that options traders may be a bit too optimistic. The platform believes that the probability that the price of Bitcoin will exceed $80,000 is only 6.19%.

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