Bets build on Bitcoin pushing through the $80,000 level.

Bullish sentiment is returning to the Bitcoin market, with derivatives traders increasingly betting on a potential move above $80,000 in the coming months.

According to data from the on-chain options platform Derive.xyz, market participants are growing more confident that bitcoin could rebound toward that level between June and September.

“Current options pricing shows roughly a 35% probability that BTC will reach above $80K by the end of June,” said Nick Forster, founder of Derive.xyz. He added that recent improvements in options market indicators suggest traders expect bitcoin to continue recovering toward the $80,000 range over the summer.

Options are derivative contracts that allow traders to speculate on price movements while limiting risk to the premium paid for the contract. This setup enables participants to bet on price direction without risking their full capital.

Call options are used to wager on price increases, while put options allow traders to bet on declines and are often used as a hedge against potential market downturns.

One closely watched indicator in options markets is skew — the pricing difference between call and put options. When calls trade at a premium to puts, it typically reflects bullish sentiment, while higher prices for puts indicate stronger demand for downside protection.

Recent market data shows that bitcoin’s seven-day and 30-day options skews have recovered to around -6%, up sharply from the -25% levels recorded during the market turmoil in early February, when bitcoin briefly dropped toward $25,000.

The rebound suggests traders are reducing their demand for protective puts, indicating that fears of a major market collapse may be fading.

“Despite earlier concerns about a catastrophic crash in the crypto market, derivatives data suggests those fears may have been overstated,” Forster said. “BTC skew — a key sentiment indicator in options markets — has rebounded from roughly -25% to around +10%, signaling a clear shift away from aggressive downside hedging.”

Data from the leading crypto derivatives exchange Deribit points to a similar trend.

Forster also noted that traders have increasingly been selling, or writing, put options across several trading platforms. This strategy allows traders to collect premiums while taking on downside risk, a position that generally reflects expectations that prices will remain stable or trend higher.

At the time of writing, bitcoin was trading near $70,000, up about 5% for the month, according to market data.

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