TechFlow news, according to The Block, analysts at QCP Capital said that recently there has been heavy buying in Bitcoin call options expiring in June with strike prices above $74,000, leading analysts to speculate that many investors are betting the price will rise above $74,000 by month-end.
QCP Capital analysts stated: "Our trading desk is seeing strong bullish follow-through with significant call buying in June-expiry Bitcoin options, indicating the options market expects a decisive break above the all-time high of $74,000 this month."
Data from Deribit derivatives exchange shows that among Bitcoin options expiring at the end of June, the largest open interest cluster is in call options with a strike price of $75,000.
In addition, on Wednesday, the most actively traded contract on Deribit was the call option expiring at the end of June with a strike price of $80,000, totaling 1,723 contracts and representing a notional value of over $123 million.
