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“Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside,” a trading firm said.
By
Shaurya Malwa|Edited by Parikshit Mishra
Updated Apr 25, 2025, 5:25 p.m. Published Apr 25, 2025, 6:08 a.m.
What to know:
- Bitcoin traded above $93,000 as traders showed optimism for short-term gains.
- Call options suggest traders expect Bitcoin to surpass $95,000 by late April or May.
- Sui Network's SUI saw a weekly gain of over 62%, with its TVL exceeding $1.6 billion.
Crypto majors were little changed over the past 24 hours as markets settled from a rally, and then profit-taking from earlier in the week. Bitcoin (BTC) traded above $93,000 in Asian morning hours Friday, with traders pointing to increased optimism of short-term gains.
“With BTC holding firmly above $90K, sentiment is becoming increasingly optimistic,” QCP Capital said in a Telegram broadcast. “Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside.”
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Call options are contracts giving the buyer the right to purchase an asset at a set price before a deadline. A flurry of call option buying activity indicates traders are betting bitcoin's price will exceed $95,000 by late April or May — a tradeable signal for retail traders.
“Still, with macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90K–$94.5K range while awaiting a decisive push toward the elusive $100K mark,” the firm said, reiterating its tone of remaining “cautious” as market sentiment hinges on macroeconomic factors.
Among majors, XRP, BNB Chain’s BNB stayed flat and Solana’s SOL showed a 2% bump. Dogecoin (DOGE) and Cardano’s ADA zoomed more than 4%, while shiba inu (SHIB) added 5%.
The broad-based CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, rose 1.2%.
Outside of majors, Sui Network’s SUI continued a multiday rally to bring weekly gains to over 62%. Catalysts include the ecosystem company xPortal, which is releasing a payment card that runs on the Mastercard network.
https://x.com/SuiNetwork/status/1915395312111530191
Data from DefiLlama shows that the total value locked (TVL) on the Sui Network has exceeded $1.6 billion, an increase of over 9% in the past 24 hours.
Additionally, the decentralized exchange (DEX) on the Sui Network has seen its 24-hour trading volume reach $599 million, showing a 35% growth compared to the previous week.
BitcoinSui
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
