Options Whales are in Bullish Mode: They are expecting an Incredible Figure in Bitcoin (BTC) within Four Weeks!

The leading cryptocurrency Bitcoin (BTC) set a new record by surpassing 111 thousand dollars following the rally it experienced last week. However, it has since experienced a slight pullback and is now in a consolidation phase.

While investors wonder whether the rally will continue, Deribit data shows that bullish expectations dominate the market.

According to Deribit data, the $300,000 Bitcoin call option with an expiration date of June 27 has become the most popular bet. The hypothetical open interest of the $300,000 call option has risen to over $600 million, compared to $484 million three weeks ago.

Deribit Head of Asia Business Development Lin Chen speaking to Coindesk said:

"The Bitcoin call options worth 300 thousand dollars, set to expire on June 27, emerged as the options with the highest open interest. This indicates that investors' expectations for a rally continue."

The $300,000 call option that will expire on June 27 implies a threefold increase in the price of Bitcoin from its current price of approximately $110,000 by the end of the first half of 2025.

Considering that there are about 4 weeks left until the end of the first half of the year, the prediction of 300 thousand dollars may seem a bit strange, but Chen noted that recently investors have aimed for a higher target in short-term options.

According to Chen, this trend among investors indicates an increasing appetite for rapid rise bets.

Finally, Lin Chen mentioned the Bitcoin 2025 Conference, which will be held in Las Vegas from May 27-29, stating, "The three-day Bitcoin 2025 conference will begin today in Las Vegas, and therefore, people are speculating about what major announcements will be made at the event. Thus, the bullish expectations continue."