Eyeing Bitcoin gains? Here are the top bullish BTC plays experts are backing.

Bitcoin Surges Past $126K as Analysts Highlight Bullish Plays for FOMO Traders

Bitcoin (BTC) kicked off October on a strong note, climbing above $126,000 in line with historically bullish seasonal trends. Traders who missed the initial rally may now be feeling the pressure of FOMO — fear of missing out — prompting analysts to suggest several strategic ways to participate.

Call Spreads Offer Controlled Upside
Markus Thielen, founder of 10x Research, recommends using out-of-the-money (OTM) calls or bull call spreads with short-term expirations of one to two months.

“Buying higher strike OTM calls or call spreads (for example, $130,000/$145,000) allows traders to gain exposure to further upside without overpaying for implied volatility,” Thielen explained.

A call option grants the right, but not the obligation, to purchase BTC at a predetermined price within a specific timeframe. A bull call spread combines buying a lower strike call and selling a higher strike call, reducing upfront costs while limiting maximum loss to the net premium paid. This makes it an effective strategy for capturing upside while managing risk.

Lin Chen, Deribit’s Asia Business Development Head, noted that block trades for call spreads dominate current flows. “We’re seeing large blocks, both long-dated (Sep 2026) and short-term monthly contracts,” Chen said. “Profit-taking activity is also notable.”

Financing Call Spreads Through Put Sales
Greg Magadini, director of derivatives at Amberdata, highlighted an alternative strategy: using proceeds from selling OTM puts to finance multiple call spreads.

“This approach allows traders to limit costs while maintaining upside exposure,” Magadini said.

However, selling puts carries additional risk, as it obligates the trader to buy BTC at the put strike price if markets fall below that level, potentially resulting in significant losses. While the call spread caps losses on the upside, the short put introduces greater downside exposure.

Long-Term Holding Still Effective
For traders seeking a simpler strategy, buying and holding BTC remains historically rewarding. Since 2011, BTC’s price has surged from $1 to over $120,000, making long-term accumulation a consistently profitable approach.