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

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