{"id":13425,"date":"2025-02-17T07:16:51","date_gmt":"2025-02-17T07:16:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13425"},"modified":"2025-02-17T07:16:51","modified_gmt":"2025-02-17T07:16:51","slug":"in-a-lethargic-bitcoin-market-btc-110k-option-play-emerges-as-top-trading-strategy","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13425","title":{"rendered":"In a Lethargic Bitcoin Market, BTC $110K Option Play Emerges as Top Trading Strategy"},"content":{"rendered":"
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Bitcoin (BTC) has been relatively listless this month, hunching below $100,000. However, this hasn’t deterred traders from continuing to bet bullishly on the leading cryptocurrency.<\/p>\n

This month’s most preferred options play has been buying the $110,000 call expiring on March 28, with buyers paying a cumulative net premium of over $6 million for the bullish exposure, according to the Deribit options flow tracked by Amberdata.<\/p>\n

A call option gives the buyer the right but not the obligation to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market, while a put buyer is bearish, looking to hedge downside risks.<\/p>\n

“Looking at the month-to-date flows for on-screen traders\u2026 the buying of March $110K calls has been the most active trade,” Greg Magadini, director of derivatives at Amberdata, said in a note shared with CoinDesk.<\/p>\n

Bitcoin has mostly traded within a narrow range of $95,000 to $100,000 this month. The bulls have had some positive developments to chew on, like the continued accumulation by MicroStrategy and Abu Dhabi’s recent reveal<\/a> of a $436 million investment in the bitcoin ETFs.<\/p>\n

However, renewed macroeconomic headwinds, highlighted by last week’s hotter U.S. inflation data<\/a> and frequent liquidity drains caused by the boom-bust cycles of memecoins and other small-cap tokens, appear to be capping the upside potential.<\/p>\n

Over the weekend, a token called LIBRA zoomed to a market cap<\/a> of over $4 billion, only to erase 90% of that within minutes. Argentina’s President, Xavier Milei, initially promoted the coin late Friday but backtracked in a few hours, causing a controversy that has him facing legal issues<\/a> in his home country.<\/p>\n

“Some bullish headlines hit for BTC last week, but that didn’t materialize into any real spike higher for spot prices,” Magadini said, referring to Abu Dhabi’s investment.<\/p>\n

“Combine this news with bearish memecoin market drag (a source of bearish headlines) such as the\u00a0$Libra drop, pump-fun mania and growing supply of alts [altcoins] and I see this market in stand-still. Together, this reinforces my ‘sideways’ market, lower volatility market thesis,” Magadini added.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) has been relatively listless this month, hunching below $100,000. However, this hasn’t deterred traders from continuing to bet bullishly on the leading cryptocurrency. This month’s most preferred options play has been buying the $110,000 call expiring on March 28, with buyers paying a cumulative net premium of over $6 million for the bullish […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13425","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13425"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13425\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}