News - Options traders bet on new record high BTC in June

By Luc Vesters

Options traders bet on new record high BTC in June

Bitcoin (BTC)
Bull run

Will BTC break through its all-time high this month? More and more traders are betting on it. According to a report by Coindesk, more and more options traders are betting on a breakthrough from USD 74,000 to USD 80,000. At the end of June, a total of USD 80 million in options had been placed for this price range.

Options are derivative contracts. They give buyers the right to buy or sell an asset at a certain price before or on a predetermined expiration date.

Consulting firm Matrixport also wrote on Twitter that Bitcoin is ready to rise. Matrixport has correctly predicted several rallies in the past.

Bitcoin started this year at a price of USD 41,000 and has nearly doubled since then. It rose into 2023 pending the approval of the BTC spot ETF and became one of the best-performing assets of the year. On June 5, the Bitcoin ETF saw net inflows of USD 887 million. Almost a record.

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