Interest in $100 and $90,000 Bitcoin contracts increases after sharp declines

In the crypto world, where $1.1 billion of positions were liquidated on Monday, investors have now started to take positive steps forward. In both US and non-US exchanges, traders started to buy Bitcoin contracts that give the right to sell at $100 and $90,000 towards the end of this year.

Interest in $100 and $90,000 Bitcoin contracts increases after sharp declines

Crypto traders have started to show a more optimistic attitude after this week’s sharp declines. According to the news of Bloomberg from the US media, Bitcoin sales contracts of $90,000 for September and $100,000 for December and March are currently the most popular contracts in the options markets. The nominal value of the contracts is around $1 billion.

‘’OTC desks on Monday and Tuesday restarted making bullish options bets by buying call spreads on Solana and Bitcoin‘’

Yevgeniy Feldman, who provides brokerage services at SwapGlobal, also touched on ‘buying call spreads’ on Bitcoin and Solana in his comments to Bloomberg:

“People got extremely liquidated on longs, it was horrific. But the US hedge-fund and institutional participants that trade options via OTC desks on Monday and Tuesday restarted making bullish options bets by buying call spreads on Solana and Bitcoin. Such imbalances indicate that there is a tremendous amount of waiting buyers at $49,000 and below.”

Call spreads involve buying and selling options in a certain price range in futures markets. Feldman states that a serious buy order is expected below $49 thousand.
As it will be remembered, during the big declines on Monday, Bitcoin dropped to $49 thousand, but rose again in a very short time.

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