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Options traders bet on new record high BTC in June

Will BTC break through its all-time high this month?

By Luc Vesters
• 2 min read
Options traders bet on new record high BTC in June

Will BTC break through its all-time high this month? More and more traders are betting on it. According to a report by Coindesk, more and more options traders are betting on a breakthrough from USD 74,000 to USD 80,000. At the end of June, a total of USD 80 million in options had been placed for this price range.

Options are derivative contracts. They give buyers the right to buy or sell an asset at a certain price before or on a predetermined expiration date.

Consulting firm Matrixport also wrote on Twitter that Bitcoin is ready to rise. Matrixport has correctly predicted several rallies in the past.

Bitcoin started this year at a price of USD 41,000 and has nearly doubled since then. It rose into 2023 pending the approval of the BTC spot ETF and became one of the best-performing assets of the year. On June 5, the Bitcoin ETF saw net inflows of USD 887 million. Almost a record.

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