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Bitcoin options show bullish bets with $70,000 calls dominating despite $64,000 spot price.

Market News
07 Aug 2026
Tokenpost
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Bullish
Bitcoin options show bullish bets with $70,000 calls dominating despite $64,000 spot price.

Bitcoin options data from Deribit reveals a strong bullish sentiment as call options heavily outweigh puts, with the largest open interest at the $70,000 strike price. Although Bitcoin trades near $64,000, close to the 'max pain' level where option buyers lose most, traders are positioning for a price rally beyond $70,000. The market balances upside bets with downside protection, indicating cautious optimism amid volatility. Key levels to watch include $64,000, $60,000, and $70,000, with expiry dynamics potentially causing sharp price moves.

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