The Bitcoin options market did not look down on the weakness in BTC prices, showing a preference for $100,000 call options

According to a trading firm, the Bitcoin options market is showing readiness for a renewed rally in 2025, with demand concentrated in $100,000 call options.

Bitcoin options traders are betting strategically against the downward trend in the price of Bitcoin (BTC).

The price of bitcoin, the most valuable cryptocurrency by market capitalization, has fallen more than 1% to $64,500 in the last 24 hours, according to CoinDesk, continuing a slide from a recent high near $72,000.

Still, the flow of bitcoin options listed on the leading exchange Deribit is biased toward call options, which exercise at a much higher price than the cryptocurrency's market price, perhaps showing that savvy investors expect the current price weakness to set the stage for a bigger rally.

We have observed an unusually large buying flow of $90,000 to $100,000 call options expiring in December and March over the past 24 hours. We see this as a sign that the market is bottoming out and setting itself up for a sustained rally, which could extend well into 2025, "Singapore-based QCP Capital said in a market update.

A call option gives the buyer the right, but not the obligation, to buy the underlying asset Bitcoin at a predetermined price at a future date. The buyer of a call option implies a bullish outlook on the market.

This chart shows the most active bitcoin options on Deribit over the last 24 hours. The activity was focused on $65,000, $68,000, and $70,000 calls expiring in June, $110,000 calls expiring in July, and $95,000 calls expiring in December.

The divergence between options market sentiment and Bitcoin price is more pronounced in the bull-put bias, which indicates the price traders are willing to pay to get an asymmetric upside or downside return.

According to a report by Amberdata, the one -, two -, three - and six-month deviations have remained consistently positive during the recent Bitcoin price correction, indicating a bullish or upside preference. There were only seven days when the bias turned negative, indicating the need for downside protection.

Bitcoin has decoupled from the Nasdaq's uptrend in recent weeks, largely due to selling by long-term holders and miners and increased discussion about the non-directional nature of ETF inflows. On Thursday, the German government transferred $425 million worth of BTC to some cryptocurrencies, most likely for sale.