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The options market does not exclude an increase in the price of bitcoin to $ 50,000

The options market estimates the chances of the Bitcoin price rising to $ 50,000 by January 29 with a 20% probability. This is evidenced by the data of the analytical service Skew.

Such a scenario is not excluded against the background of the dynamics of the first cryptocurrency at the beginning of the year. After a 20% correction on January 8-11, with the price of the first cryptocurrency dropping below the $ 31,000 level, it returned to levels slightly below $ 40,000.

The indicator is calculated using the Black-Scholes formula based on call prices, strike prices, underlying asset price, risk-free interest rate and time to maturity.

Data: Skew.

Options-oriented exchange Deribit has expanded the strike price for Bitcoin-based contracts with year-end expiration to $ 400,000.

We’ve added the $ BTC 400K strike in the Dec21 expiry!

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– weights (@DeribitExchange) January 14, 2021

In the bitcoin futures market, open interest rose again to record highs near $ 13 billion.

The maximum share of OI falls on the CME exchange, which is focused on large investors, where the indicator reached $ 2.39 billion.

Note that in the fourth quarter, Grayscale cryptocurrency funds raised a record $ 3.26 billion.

On January 12, Grayscale Investments resumed accepting deposits in several cryptocurrency funds after a suspension at the end of 2020.

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