“Do not be surprised if the purchase activity accelerates throughout the spectrum of products linked to BTC,” Coindesk said in the Crypto Daybook Americas Tuesday, presenting an upward case for Bitcoin.
As the price of Bitcoin (BTC) jumped to new lifelong maximums above $ 111K during Thursday’s Asian negotiation hours, it stimulated record activity in the options market that is quoted on abandonment.
The notional open interest (OI), or the dollar value of the number of active or open options contracts, increased to a record of $ 42.5 billion, the CEO of Delibit, Luuk Strijers, told Coindesk.
The options are derived contracts that give the right, but not the obligation to buy or sell the underlying asset at a predetermined price at a later date. A call provides the right to buy, which represents an implicit bullish bet in the market, while a sales option offers insurance against price slides.
The BTC movement to the registered maximums saw the merchants pursue the purchase options of greater strike.
“Most of the strikes quoted in the last 24 h: $ 120k and $ 130K up for May and June. The highest IF is now in the $ 110K, $ 120K and $ 300K attacks on June 27, which shows bullish conviction,” Strijers said.
Delibit is the exchange of larger cryptographic options in the world, which represents almost 80% of the global cryptography options. The exchange also offers operations in perpetuals and spot markets. The general open interest in crypto options and perpetual futures segments has also reached a record of more than $ 45 billion.
Crypto Excellar Crypto published has planned to acquire Exchange Deribit derivatives in an agreement of $ 2.9 billion.
Read more: In a $ 2.9b agreement, Coinbase agrees to buy BREADIT to expand in the US cryptographic options market. UU.
