The leading cryptocurrency Bitcoin and altcoins were among the assets that were adjusted the most in the tariff war between the US and China.
While the sharp declines experienced pulled the BTC price down to $74,000, option whales started to rise again with the price recovery.
Accordingly, the Bitcoin options market has been on the rise as $100,000 options have regained popularity.
Citing data from Deribit, market analyst Omkar Godbole said that bullish sentiment has returned to the options market as Bitcoin has surged from lows of under $75,000 to above $84,000.
According to the analyst, this positive change in the options market is partly due to renewed market optimism following the temporary suspension of tariffs by Donald Trump.
According to Deribit data, options traders are dumping put options in the $75,000 to $78,000 range on Bitcoin, while they are opting for call options between $85,000 and $100,000.
At this point, the analyst stated that the 30, 60 and 90-day option curves turned positive from last week’s negative levels, and said, “This situation signals a decrease in market fear and a revival in bullish sentiment.”
The analyst last noted that $100,000 calls have emerged as the most popular bet on Deribit, with open interest approaching $1.2 billion.
After the $100,000 call option, the $70,000 put option is second in popularity at Deribit, with open interest at $982 million.
*This is not investment advice.
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