Bitcoin was trading at about $83,238 as of Sept. 30, based on HTX market data, but activity in the options market is leaning higher. Traders are increasingly building positions that wager on a move above $90,000, with $95,000 and $100,000 also standing out as popular strike prices. The positioning points to continued upside demand even as near-term sentiment around Bitcoin has softened.
Institutional flows have also improved. Bitcoin exchange-traded funds have now posted eight straight days of inflows, including $31 million recorded yesterday. According to BlockBeats, that combination of bullish options activity and steady ETF demand suggests buyers are still active at higher price levels, despite weaker short-term sentiment in the spot market.
Bitcoin was trading at about $83,238 on Sept. 30, according to HTX market data.
Even so, options traders have been increasingly positioning for a move above $90,000. Strike prices at $95,000 and $100,000 are also seeing strong interest.
Institutional fund flows have improved as well. Bitcoin ETFs have logged inflows for eight consecutive days, with $31 million coming in yesterday.
BlockBeats said the positioning shows upside demand remains active even though short-term sentiment around Bitcoin has turned weaker.
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