$110K Bitcoin? Traders Wager Millions Despite Market Stagnation

BTC at a Standstill: Traders Bet Big, but Macroeconomics Hold Prices Back
Crypto Chaos: Memecoins, Inflation, and Bitcoin’s Uncertain Path
Bitcoin Bulls vs. Market Reality: Why BTC Is Struggling to Break Out
LIBRA Crash, Memecoin Madness, and Bitcoin’s Sideways Ride

Bitcoin (BTC) has remained relatively stagnant this month, struggling to break past $100,000. However, this hasn’t stopped traders from placing bullish bets on its future price movement.

One of the most popular trades this month has been buying $110,000 call options expiring on March 28, with investors spending over $6 million in total premiums, according to options flow data from Deribit, tracked by Amberdata.

Traders Remain Optimistic Despite Market Uncertainty
Call options give traders the right (but not the obligation) to buy BTC at a fixed price before a set expiration date. Buying a call option indicates a bullish outlook, while purchasing put options reflects bearish sentiment.

“Looking at the month-to-date flows, the most active trade has been the buying of March $110K calls,” said Greg Magadini, Director of Derivatives at Amberdata, in a note shared with CoinDesk.

Despite these bullish bets, Bitcoin has been trading within a narrow range of $95,000 to $100,000 throughout the month. Positive developments—such as MicroStrategy’s continued BTC accumulation and Abu Dhabi’s $436 million investment in Bitcoin ETFs—have provided some optimism.

Macroeconomic Pressure & Memecoin Chaos Weigh on Bitcoin
However, broader macroeconomic concerns, including hotter-than-expected U.S. inflation data, have tempered the market’s upside potential. The rise and fall of speculative altcoins and memecoins has also contributed to market instability.

Over the weekend, a token called LIBRA skyrocketed to a $4 billion market cap, only to crash by 90% within minutes. The chaos was fueled by Argentine President Javier Milei, who initially endorsed the coin on social media before retracting his support—sparking legal trouble back home.

“Despite some bullish news for BTC last week, spot prices didn’t see a meaningful rally,” Magadini noted.

The combination of bearish memecoin activity, an increasing supply of altcoins, and broader market uncertainty has kept Bitcoin in a low-volatility, sideways trading pattern, he added.

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