Bitcoin price of $80,000 at the end of April seems to be the target for most options traders
Options traders are expressing bullishness and betting that the bitcoin price will rise above $80,000 as early as the end of April. However, analysis data suggest that this scenario is quite unlikely.
With events on the horizon, such as the highly anticipated Coinbase IPO next month, options traders seem to be betting that the Bitcoin price will continue its upward rally and reach new all-time highs in the coming weeks.
A Bitcoin price in the range of $80,000 is where the most money is being bet on
On March 24, the founders of cryptoanalysis firm Glassnode tweeted data suggesting that options traders on peer-to-peer crypto derivatives exchange Deribit are stocking up on contracts with a strike price of $80,000, which expire as early as April 30. Contracts with this price target have already been bought with a face value of 4,000 BTC, representing over 50% more sales than any other strike price.
