key takeaways:
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Bitcoin bulls aim to push BTC above $ 110,000 by May 30, which is to capitalize at $ 4.8 billion in call options.
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Spot BTC gives a strong lead to the monthly end to the BTC ETF inflow and weak put positioning bulls.
Bitcoin (BTC) Contacting its biggest monthly Option expiration In 2025, the total exposure reached $ 13.8 billion. The phenomenon gives the bulls a chance to secure the price of bitcoin above $ 110,000, as Bears were caught by a guard by a 25% rally in the last 30 days.
The open interest in bitcoin put (cell) options is $ 6.5 billion, but 95% of these are set below $ 109,000. Therefore, if the price of bitcoin is near the existing levels, the Put option of less than $ 350 million will be relevant.
In contrast, open interest in bitcoin calls (buy) options up to $ 109,000 total $ 3.8 billion. Nevertheless, this imbalance does not mean that every call option holder was betting on the rise of bitcoin. Some traders may have sold these options in a way Hedge their exposure Above some value levels.
The most important option strategies trading in deribit in the last two weeks are “short calls”, which is often used by investors, as long as the price of bitcoin remains above a particular limit, demands a certain income returns. Similarly, the “bull call spread” strategy hedges against negative risk by renouncing profit above a certain value.
Strong bitcoin ETF inflows reduce the fall in further prices
If bitcoin maintains a level of $ 109,000, most of the fast strategies should give positive results at the end of the May options. However, Bears can try to influence BTC futures markets to limit their losses.
The total open interest in bitcoin futures is currently $ 79 billion, which is showing strong demand Small (sell) postNevertheless, this strategy can be backfire if bitcoin rises above $ 110,000, as the bear can be forced to close their positions.
$ 1.9 billion net inflow The US spot bitcoin exchange-traded funds (ETFs) indicate that the demand for $ 105,000 remains stronger between May 20 and 22 May. Finally, the main hope of the bear lies in a weak macroeconomic environment, which can increase the growth of risk and reduce the demand for bitcoin.
Connected: Bitcoin hits a new height in the absence of ‘unhealthy’ leverage use – will the rally continue?
Bitcoin Bulls target by 30 May $ 110,000
Below are four potential landscapes based on current value trends. These results estimate theoretical benefits based on open interest imbalance and are not responsible for complex strategies.
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Between $ 102k and $ 105k: $ 2.75 billion calls (buy) vs $ 900 million in put (sell). The net results favor call instruments of $ 1.85 billion.
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Between $ 105k and $ 107k: $ 3.3 billion call vs. $ 650 million put, in favor of a call of $ 2.65 billion.
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Between $ 107k and $ 110K: $ 3.7 billion call vs. $ 350 million puts, supports a call of $ 3.35 billion.
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Between $ 110K and $ 114K: $ 4.8 billion call vs. $ 120 million puts, $ 4.7 billion calls.
Bulls can maximize your profit by running BTC above $ 110,000, which can help in setting a new all-time high. However, the speed of ongoing speed depends on development in the tariff war, which has been a significant focus in recent weeks.
This article is for general information purposes and is not intention and should not be taken as legal or investment advice. The ideas, ideas and opinions expressed here are alone of the author and not necessarily reflected or represented the ideas and ideas of the components.
