Bitcoin soars to an all-time high as options traders bet it will rise to $140,000

Golden Finance reports that Bitcoin soared to a new all-time high over the weekend, prompting options traders to ramp up their bets, expecting the largest crypto asset to rise to $140,000. According to data from Deribit, a crypto derivatives exchange under Coinbase, the open interest for short-term Bitcoin options contracts expiring at the end of the year is concentrated around this strike price for call options. Demand for put options has also seen moderate growth as traders seek downside protection after the rise. 'Currently, the nominal open interest in Bitcoin futures and perpetual futures has reached record highs, despite a wave of 'buy to close' liquidations,' said Greg Magadini, head of derivatives at Amberdata. 'The market's rise has caught many by surprise, and we have yet to see a peak, especially since many traders had previously shorted the market.' (Jin10)