Activity in the Bitcoin options market shows BTC has a 9% chance of reaching $20,000 by the end of 2020.
The Bitcoin (BTC) options market, which is mostly dominated by Deribit and CME, gives a 9% chance for BTC to rise to it's all-time high at $20,000 by the end of 2020.
Given the tendency of Bitcoin to see a prolonged rally six to eight months after a halving is activated, traders in the options market are relatively cautious about the medium-term trend of BTC.
Data shows the BTC options market is tilted towards bulls
In the near-term, many traders on both Deribit and CME are seemingly optimistic on the price trend of BTC.
According to data from ecoinometrics, the CME Bitcoin options exchange recorded 22 calls for every 1 put.