Bitcoin PriceBTC OptionsCointelegraph.comMarket AnalysisMarkets

High priced $80K Bitcoin options signal pro traders expect more upside

Bitcoin’s recent price action and the increasing pace of institutional adoption suggest that traders betting on the June $80,000 Bitcoin call option will be handsomely rewarded.
Betting on an $80,000 Bitcoin call options for June doesn’t seem outrageous given BTC’s bullish performance over the past few weeks. This was not the case a couple of months ago when BTC peaked at $42,000 on Jan. 8 and subsequently dropped to the $30,000 level. Bitcoin price, USD. Source: TradingViewAt that time, a 150% upside was needed from the $32,000 price on Jan. 26, and this seemed quite far-fetched. Therefore, the June $80,000 BTC call (buy) options traded at Deribit for $2,240, or 0.07 BTC. BTC $80,000 June call option, in BTC. Source: DeribitLess than two months later, as BTC reached $61,700 on March 13, the same call option peaked at BTC 0.15, or $9,255. That’s a 3x gain in less than seven weeks. Keep in mind that despite the 93% rally to $61,700, an additional 30% upside was needed to reach the $80,000 strike. BTC June call option market. Source: DeribitDespite the recent BTC price increase, the implied options probability (delta) currently sits at 39%. That call option price has also increased due to the BTC volatility change as sellers will request a more substantial premium for taking the risk during uncertain markets.Intense price swings, regardless of the direction, will push volatility higher, and unexpected news from major media outlets usually drives the indicator up.Bitcoin 60-day options historical volatility. Source: Buybitcoinworldwide.comTake notice of how BTC volatility spiked from 4% in January to the current 5%. This event is notably bullish for call …
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