Traders buy bitcoin options to increase BTC to $ 36,000

Users of the crypto derivatives exchange Deribit are actively betting on Bitcoin options that will allow themto earn if the price of Bitcoin (BTC) rises to $ 32,000 or $ 36,000 by the end of the year, CoinDesk notes. On Sunday, these were the most popular options on the platform.

“We saw unusual activity in December call options with a strike price of $36,000. Several buyers likely entered into these trades with bullish expectations.”the company said.

New contracts with a price are leading in terms of the volume of transactionsexecution of $ 36,000. There were 752 of them. They were followed by 462 contracts with a strike price of $ 32,000. December contracts with a price of $ 28,000, as well as contracts for the current month with a price of $ 9,750 and $ 9,000, attracted relatively small volumes.

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Options to buy options at $ 32,000 and $ 36,000passed over the weekend when liquidity was low. Because of this, traders had to overpay significantly in relation to the prices they could have received during the working week. Their activity is difficult to explain, given that, in general, market participants assess the chances of Bitcoin's rise even to $ 20,000 by the end of December as very low. The estimated probability of exceeding $ 20,000 is 5%, $ 28,000 - 2%.

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At the same time, the options themselves with a strike price of $ 36,000 are quite cheap for buyers, which could motivate traders to open them, given the potential profit if the bet plays out.

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