BTC option traders bet on rise to $80K

As Bitcoin sentiment turns bullish, option traders are increasingly betting on the cryptocurrency reaching $80,000, CoinDesk reported. Nick Foster, founder of the on-chain options platform Derive, noted that current option prices imply a roughly 35% chance of Bitcoin surpassing $80,000 by the end of June. He explained that the recent option price structure and the recovery in skew—the difference in implied volatility between call and put options—suggest traders are pricing in a potential rebound to the $80,000 level between June and September. Foster added that while there were past concerns about a potential crypto market collapse, the derivatives market indicates these fears were overstated. He pointed to the BTC skew, a key sentiment indicator in the options market, which has sharply rebounded from approximately -25% to its current level of 10%, signaling a shift away from aggressive downside hedging.