Laevitas data shows heavy call option open interest clustered at $70,000 and $72,000 strike prices for contracts expiring July 31, signaling traders are positioning for further upside.
Bitcoin options traders are positioning for a sharp near-term move higher, with $3.4 billion wagered on the cryptocurrency gaining 11% by next Friday. Laevitas data cited in the update shows particularly heavy open interest in call options (contracts that profit if prices rise) at the $70,000 and $72,000 strike levels, with expiry set for July 31. The concentration suggests bullish sentiment and highlights where traders are targeting upside in the options market.