The options market is showing that crypto traders are targeting what would be a new record price for Bitcoin after the largest cryptocurrency reached a more than two-year high of $50,000 this week.
The open interest, or number of outstanding contracts, for calls that expire on March 29 with strike prices of $60,000, $65,000 and $75,000 has seen a significant increase, according to data from the largest crypto options exchange Deribit. Bitcoin’s all-time price of almost $69,000 was set in November 2021.
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