#May Market Outlook Whale Options Have Made Their Decision: They Expect a Historical Record in Bitcoin by This Date! – A First is Happening!

According to Deribit data, option whales prefer a $300,000 call on Bitcoin as the second most active option in June.
The leading cryptocurrency Bitcoin (BTC) and altcoins continue to recover after being hit by the trade war between the US and China.

At this point, BTC rose to over 97 thousand dollars, while significant increases were also observed in altcoins.

While this recovery increases the bullish expectations among investors, Bitcoin whales are favoring the $300,000 call option as the second most active option in June.

According to the news, the $300,000 Bitcoin call option, which will expire on June 26, became the second most active position among June expiration options with over 5,000 open contracts and $484 million in notional open interest, according to Deribit data.

In contrast, the $110,000 call option for BTC continues to be the most popular among option investors.

GSR derivative trader Spencer Hallarn likened $300,000 options to a lottery ticket, stating:

"Maybe people love buying lottery tickets. As the call curve shows, there are always people who want to protect themselves from hyperinflation."

Recently, Hallar stated that the 300,000 dollar options have garnered a lot of interest among investors, saying, "The Deribit BTC options market has experienced similar flows in previous bull cycles. However, these options have not gained enough popularity to rank as the second most preferred bet in the three-month term. None of them attracted this level of interest."
It is not investment advice.