Open interest in bitcoin's price surpassing $90,000 rose to more than $2.8 billion on the popular Deribit derivatives exchange, one of a few crypto native platforms that offers futures trading.
"The options market's bias is heavily toward continued momentum.
Call options trade at a premium to puts, and open interest in out-of-the-money calls has grown," Vetle Lunde, head of research at K33 Research, told CNBC.
The CME derivates exchange offers bitcoin futures contracts and is a popular way for institutions in the U.S. to make bets on the future price of bitcoin.
Velde told CNBC that on Friday CME premiums for ether and bitcoin averaged 14.5% and 14%, respectively.
Persons:
Bitcoin, Vetle Lunde, Velde
Organizations:
K33 Research, CNBC
Locations:
U.S, Velde