Analysis: Active Bitcoin long contract positions are significantly higher than short contracts, indicating bullish market sentiment

Odaily Odaily News QCP Capital said in a report on Monday: "From last Friday to the weekend, Bitcoin volatility and funding rates have reversed and rebounded, and we have seen some bullish follow-through. BTC risk reversals have turned positive (call options are more expensive than put options), and demand for BTC's $75,000 and $100,000 call options expiring in September has reappeared." OTC trading agency Paradigm made a similar observation on Monday, saying that demand for OTM call options has increased, that is, call options that are far above the current market price of Bitcoin. It said: "The options market seems to expect a short-term rise early this morning, with the highest BTC and ETH transactions on Paradigm, including large-scale purchases of OTM call options. We noticed that the previous buyer of the $200,000 call option on March 25 (expiring) closed his position and bought the $85,000 option in July 2024 (expiring). "Data from Deribit shows that traders have locked in more than $688 million of $100,000 call options of different maturities, which is the highest notional open interest of all options on the exchange. (CoinDesk)