Crypto Traders Load Up on Bitcoin Topside Option Plays After Binance’s Gulity Plea

Data shared by market analyst Chang shows that early Wednesday, market participants traded 550 contracts of BTC $45,000 strike call option expiring in March 2024 on Deribit. Buyers, expecting a continued price rally in bitcoin in the coming months, paid a cumulative premium of $1.5 million for the bullish bets. On Deribit, one options contract represents one BTC.