Bitcoin Market Eyes $130K Targets as Traders Bet on a Fresh Wave of Volatility

Traders Position for Bitcoin Breakout as Bets Target $130,000 Strike

Bitcoin has spent the past 50 days consolidating between $100,000 and $110,000, but the lull may soon give way to bigger moves as traders position for a potential rally.

Despite subdued price swings, crypto options activity on Deribit shows investors gearing up for higher prices and a spike in volatility later this year.

“Implied volatility remains near multi-year lows, but a sustained breakout above $110,000 could trigger a surge in volatility demand,” Singapore-based QCP Capital noted in a market update. “Larger players are positioning for that scenario now.”

QCP highlighted significant interest in September $130,000 bitcoin call options, as well as continued activity in September $115,000/$140,000 call spreads, signaling bullish sentiment among sophisticated traders.

Call options give holders the right—but not the obligation—to buy bitcoin at a set price within a specific period, making them a popular tool for leveraged bullish bets. Traders accumulating contracts at the $130,000 strike are effectively wagering that bitcoin will push well past current levels in the coming months.

For now, bitcoin trades around $108,574, as selling from long-term holders continues to offset inflows into spot bitcoin ETFs.

Investors are watching several upcoming events that could catalyze a market move. The release of the Federal Reserve’s June meeting minutes on Wednesday may sway macro sentiment, while reports suggest the U.S. government has extended its 90-day tariff pause for several major trading partners until August 1, adding further uncertainty to the broader economic outlook.