Traders Bet Big on Bitcoin Reaching $100,000

Bitcoin (BTC) has recently surged past the $90,000 mark, reaching a new high above $93,000, sparking optimism among traders.

This momentum has led to a notable increase in activity on the Chicago Mercantile Exchange (CME), with many investors betting that the price could continue to rise, even hitting $100,000.

Data from CF Benchmarks shows that traders are particularly focused on CME’s $100,000 call options, reflecting their belief in Bitcoin’s potential to climb even higher. This trend mirrors similar behavior seen on offshore exchanges like Deribit, where investors have been placing $100,000 bets since September.

Options traders have become especially bullish, as seen by a significant rise in the 30-day fixed-term 25 delta skew, a key indicator of market sentiment.

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According to Thomas Erdösi from CF Benchmarks, this increase suggests growing demand for higher Bitcoin prices, with calls (buying options) now outpacing puts (selling options) significantly.

Additionally, the rise in implied volatility and the growing interest in strike prices above $100,000 indicate that traders are positioning themselves for even further gains, reinforcing confidence in Bitcoin’s upward momentum.

Alexander Zdravkov