Bloomberg: Options traders turn bullish as Bitcoin rises to $100,000 by the end of January

On January 6, according to Bloomberg, the Bitcoin options market shows that traders are refocusing on the $100,000 level. As market optimism heats up, investors are expected to re-enter crypto assets after the crypto market crash in the fourth quarter. According to data from CEX Global Inc.'s CEX derivatives trading platform, the open interest in Bitcoin options is most concentrated in contracts expiring on January 30 with a strike price of $100,000. Its notional value is more than twice that of the second most popular options contract (strike price $80,000, expiring on the same day) which are put options. Wintermute OTC trading head Jake Ostrovskis said, “Although the scale isn’t huge, the direction is consistent — this is based on the large positions at the $100,000 strike price that appeared last week. From the current curve, there are still some put premiums, but they have softened significantly. Therefore, I believe the market no longer expects the most pessimistic downside scenario, and the situation is slightly stabilizing.” This marks a significant difference in market sentiment compared to the crypto crash period at the end of 2025, when spot markets were continuously selling off, and downside protection premiums in the form of expensive put options soared. Satraj Bambra, CEO of hybrid trading platform Rails, said, “Re-testing the $100,000 to $106,000 range is not impossible, which is common in bearish structures. For Bitcoin to turn bullish, it needs to recover and hold above $106,000 on the weekly chart before attempting to hit new all-time highs again.”