Bitcoin options data indicates only a 25% chance of reaching $84,000 by the end of May, despite recent price gains. Institutional accumulation and Spot BTC ETFs could challenge this outlook.
Bitcoin has reclaimed the $78,000 level amid positive market sentiment, with the S&P 500 Index reaching an all-time high. Options markets are pricing in a 25% probability that Bitcoin will exceed $84,000 by the end of May, despite a 15% increase over the past month. Bitcoin call options with a May 29 expiry at an $84,000 strike price traded at 0.0136 BTC, or $1,063. Additionally, Bitcoin put options have been trading at a premium, reflecting increased demand for downside protection.