The $100 IBIT call option indicates a bullish sentiment, as traders anticipate the ETF could double to $100, reflecting confidence in Bitcoin's price movement.
Samneet Chepal highlighted that seeing 'professionals' degen into $100 strikes is intriguing, as it effectively suggests a doubling of BTC prices from its current level.
Tuesday's trading volume was remarkable, with $1.9 billion witnessed in options tied to BlackRock's bitcoin ETF, predominantly focusing on bullish call options.
The activity on Deribit, with $381 million locked in $200,000 bitcoin call options, suggests that investors are preparing for a significant price increase.
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