Bullish bets soar as Bitcoin call options target $120K strike

Strong concentration of call options at $100K and $120K suggests traders anticipate a significant Bitcoin rally.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Open interest on Bitcoin options is painting a telling picture of market sentiment. With call options heavily concentrated at $120,000, $100,000, and $110,000—far above the current price of $81,220—traders are clearly bullish, betting on a sharp upward move. Yet, the bulk of put options huddle around $80,000, possibly signaling caution or hedging strategies. But what stands as the "max pain" point where dreams and disappointments converge, potentially shaping Bitcoin's near-term future? Discover how this pivotal price point, and its implications, may direct the market's next moves.