Bitcoin Surges $44,000 Call Options Hit $100M in Block Trades!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Dec 20, 2023 22:29

Bitcoin’s price has surged back to $44,000, triggering large call option trades worth over $100 million in the last hour. The cryptocurrency market, which had been relatively subdued earlier in the day, is once again in a bullish mood, with rising implied volatility (IV) in major time frames. In contrast, Ethereum saw a divergence in trend, with a block trade buying over $100 million of puts earlier in the day. Even during the recent rally, Ethereum’s market is still dominated by block put trades. Long positions are now heavily concentrated on Bitcoin, while short positions still dominate on Ethereum.