Deribit’s cryptocurrency derivative platform allows traders to bet Bitcoin (BTC) at $ 100,000 – not less, for a specified period.

Starting Thursday, users of Deribit can bet that the main cryptocurrency will reach $ 100,000 in options contracts expiring on September 24, 2021. The high redemption price is set after a sharp increase in daily trading volumes.

In options trading, strike is the value that a derivative can buy or sell when exercising.

Deribit handled 754123 BTC option contracts, according to marketing materials posted on Twitter on Thursday.

The exchange is currently the 10th largest cryptocurrency derivative exchange on CoinMarketCap or CMC. The volumes reported by CMC may not reflect actual market turnover due to methodological issues with how data are collected and reported.

Crypto analysis provider Skew said Thursday that Deribit is the largest derivative market for Bitcoin trading. The company also said that BTC trading in options today crossed $ 1 billion for the first time.

Deribit reports:

“Today we see a total turnover of $ 3.5 billion (within 24 hours) […] We saw a total turnover of $ 1.4 billion today (within 24 hours):
Bitcoin’s coveted six-digit lunar frequency is a pre-call for the most enthusiastic followers. What shocked some recently is that many of the most optimistic forecasts do not come from the BTC community.

Citibank clearly expected a BTC price of $ 318,000 next year, while Guggenheim demanded a estimate of $ 400,000. Meanwhile, GBMorgan says Bitcoin may soon have a $ 600 billion catalyst, pushing prices up sharply.

The Bitcoin Roller Coaster year appears to be ending on a positive note as the digital currency fights for new points full time. On Thursday, the price approached $ 24k, then dropped slightly. Bitcoin is currently trading at less than $ 22,700, up 220% year-to-date.

Source: CoinTelegraph