Options traders bet on BTC surpassing $130K despite sharp drop

Despite a sharp drop in Bitcoin's price last week, options traders are betting the cryptocurrency will surpass $130,000, DL News reported, citing Glassnode data. A similar trend was also observed on the derivatives exchange Deribit, where a total of $1.7 billion has been placed on bets that BTC will trade between $140,000 and $150,000 by the end of the year. Commenting on this trend, Bitfinex analysts noted that the recent activity is driven by simple market sentiment and speculation, rather than by bets on macroeconomic data. The analysts added that the market may be vulnerable because macroeconomic data is currently obscured, and that price volatility could increase once such data is released.