Traders Can Now Bet on 'Bitcoin $300K' as Options Keep Pace With Rising Price

Traders can now bet on whether bitcoin will hit $300,000 by year's end.

Crypto derivatives exchange Deribit has added a $300,000 option to keep up with BTC's blistering price performance in recent weeks.
The $200,000 option came into being late last week after bitcoin rose from $25,000 on Dec. 25 to $32,000 on Jan. 2.
Six days later – with bitcoin currently north of $39,000 and having risen to as high as $41,962.36 earlier Friday – the maximum option followed suit.
Even with the bullishness driving bitcoin's rally, there's only so high folks are willing to climb, as you can see from the following picture of open positions on Deribit's website.
Other than one optimistic soul wagering that $200,000 this year could be a real thing, there's been no activity at any strike above $100,000.

CoinDesk - Unknown — BTC options on Deribit

Generally, options indicate how some of the market's more sophisticated traders are gauging current price trends.
Hope may spring eternal but apparently even hope has a ceiling.

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Kevin Reynolds

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