The spike may be being fueled by increased put selling, which is usually done when the market is expected to consolidate, or rally.
Institutions are loading up on bull call spreads in anticipation of a continued bitcoin price rally.
Lack of hedging demand for long-term put options shows institutions remain unconcerned by Monday's price drop.
Mexico City-based Bitso plans to incorporate Quedex’s high-performance trading engine across the exchange.
Bitcoin's options market sees only a 12% probability of prices rising above $100,000 by the end of December.
As long as these options remain open in the market, the next couple of days could be volatile for bitcoin.
Options traders look to be preparing for further falls in bitcoin's price in the short term, according to put-call skew data.
While a rally to $50,000 in two weeks may be challenging to envision but is far from impossible.
The eye-watering strike option supplants the company's previous $300,000 maximum offering listed on Jan. 9.
Back in October, one trader made a long-shot bet that bitcoin would hit $36,000 by January. It paid off in a spectacular way.
Some bitcoin traders are buying bullish call options at $52,000 and higher strike prices.
Traders in Europe are threatening legal action against eToro for allegedly closing their leveraged crypto positions without enough notice.
It supersedes the $200,000 option on Deribit as the maximum one can wager.
Deribit is now offering traders the ability to bet on bitcoin's rally reaching $200,000 by late December.
Options marketplace Opyn is rolling out an upgrade that targets capital efficiency and liquidity in the DeFi options market.