Analysis: Options data suggests Bitcoin could rise above $74,000 by month end

BlockBeats news, June 6, QCP Capital analysts said that recently, the strike price of Bitcoin call options expiring in June exceeded $74,000, and a large amount of buying led analysts to speculate that many investors bet that the price will rise to more than $74,000 by the end of the month.

QCP Capital analysts said: "Our trading department has seen strong bullish follow-up, and a large number of Bitcoin call option purchases expiring in June indicate that the options market will decisively break through the historical high of $74,000 this month." According to data from the Deribit derivatives exchange, the largest group of open contracts for Bitcoin options expiring at the end of June is a call option with a strike price of $75,000.

In addition, on Wednesday, the highest trading volume on Deribit was a call option expiring at the end of June with a strike price of $80,000, totaling 1,723 contracts with a notional value of more than $123 million.