Analysis: Traders buying $100K Bitcoin in anticipation of spot price rise

Citing data from CF Benchmarks, a UK-based cryptocurrency benchmark index provider, CoinDesk reported that traders are currently buying $100,000 Bitcoin call options on the Chicago Mercantile Exchange (CME) in anticipation of a price rise. A similar trend is observed on Deribit, a cryptocurrency options exchange. The outlet added that in the Bitcoin options market, the 30-day 25 delta skew has crossed the five vol (volatility) threshold, approaching its highest point of the year. This indicator compares demand for call and put options, and crossing the five vol threshold means that the market's expectations for a price rise have reached their highest level this year. Traders on Deribit have also been steadily increasing their purchases of $100,000 call options since late September.