Bitcoin Hits New Highs Amid Growing Market Momentum
The $300K Bitcoin call option has become the most popular bet for June 27 expiry, with over $600 million in open interest, reflecting aggressive speculative positioning by traders expecting Bitcoin to rally above $300,000 by the end of June. Despite the current price of around $110K, traders are engaging in short-term bullish bets, which may signal a market top or heightened volatility, especially as the demand for short-duration calls increases and market skew indicates extreme bullish sentiment. Experts suggest this could be a contrarian warning of potential market exhaustion.