Bitcoin Bulls Eye $115,000 by December as Options Market Signals Mixed Sentiment

Bitcoin traders are increasingly targeting a potential move toward $115,000 by December 2026, with billions of dollars tied to year-end options contracts. Data from the derivatives market shows nearly $6 billion in Bitcoin options open interest for the Dec. 25 expiry, reflecting renewed optimism after Bitcoin rebounded more than 33% from its February low near $60,130.

A significant portion of call options is concentrated above the $115,000 level, with roughly $1.85 billion linked to bullish positions. However, analysts note that many of these contracts are often used for hedging or low-cost exposure to major upside scenarios rather than direct price predictions.

Bitcoin Traders Remain Cautious Despite Bullish Targets

While bullish expectations continue to build, market data also shows strong downside protection activity. Put options targeting Bitcoin below $55,000 represent nearly $1 billion in open interest, suggesting traders remain cautious about volatility and possible corrections.

Professional sentiment indicators also reflect moderate concern. Bitcoin put options currently trade at a 9% premium over comparable call options, signaling lingering fears of downside risk despite the recent recovery toward the $80,000 range.

Analysts say the options market currently reflects balanced positioning rather than excessive bullish speculation.