Crypto:
30349
Bitcoin:
$64.263
% 0.13
BTC Dominance:
%54.0
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
Bitcoin:
$ 64.263
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Institutional Investors Set Their Sights on Bitcoin Price

Bitcoin, Btc, Bitcoin Dominance, Btc Halving

According to a report by crypto market maker Wintermute, investors have started selling Bitcoin (BTC) call options expiring at the end of May for a strike price of $80,000.

$80,000 Barrier Could Be a Key Level

If the Bitcoin price closes May below $80,000, these options will expire in the money, resulting in profits for the sellers. Conversely, if the price climbs above $80,000 by the end of the month, the options will expire worthless, and the sellers will lose their investment.

Highlighting the bearish market conditions, Wintermute suggests that the $80,000 strike price is a reasonable level under these circumstances.

Wintermute’s Analysis:

The report further elaborates:

“One popular strategy among traders is to sell out-of-the-money call options, such as those with a strike price of $80,000 for the end of May. These strikes are above the current high and have a lower probability of expiring in the money.”

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