Inactive Bitcoin Market Sees $110K Call Option Become Top Trade
Bitcoin (BTC) has remained below $100,000 this month, with traders still engaging in bullish activities. Key points include:
- The most popular option is the purchase of $110,000 call options expiring on March 28, totaling over $6 million in premiums.
- Call options allow buyers to purchase BTC at a set price by a specific date, indicating bullish sentiment.
- Recent accumulation by MicroStrategy and Abu Dhabi's $436 million investment in Bitcoin ETFs are positive developments.
- Market constraints arise from macroeconomic factors, including high U.S. inflation data and liquidity issues linked to memecoins.
- A token called LIBRA briefly surged to a $4 billion market cap before dropping 90%, causing legal concerns for Argentina's President Xavier Milei.
- Despite some bullish news, spot prices did not significantly rise, leading to expectations of a sideways market with lower volatility.