Bitcoin Call Options Show Bullish Sentiment as $95K Target Looms; SUI Continues Rally
Crypto markets saw little movement over the past 24 hours, stabilizing after an earlier rally followed by profit-taking. Bitcoin (BTC) remained steady above $93,000 as of Friday morning in Asia, with traders expressing increasing optimism for short-term gains.
“With BTC holding strong above $90K, market sentiment is leaning more positive,” said QCP Capital in a Telegram message. “Call options at $95K strikes for both end-April and end-May expirations have been the dominant flow, signaling a tactical appetite for further upside.”
Call options give traders the right to purchase Bitcoin at a set price before a specified deadline, and a surge in call option activity at the $95,000 strike price suggests that traders are betting on Bitcoin surpassing this level in the coming weeks. This movement is being closely watched by retail traders, offering a clear signal of bullish sentiment.
“However, with macro risks currently subdued and trade tensions easing, BTC is likely to consolidate in a narrow range between $90K and $94.5K as the market awaits a decisive push toward the elusive $100K mark,” QCP Capital added, urging caution as broader macroeconomic factors continue to influence market dynamics.
Among the top cryptocurrencies, XRP and BNB (BNB Chain) remained flat, while Solana’s SOL saw a slight 2% increase. Dogecoin (DOGE) and Cardano (ADA) surged more than 4%, with Shiba Inu (SHIB) also gaining 5%. The CoinDesk 20 index, which tracks the largest cryptocurrencies by market cap, rose by 1.2%.
Meanwhile, Sui Network’s SUI token continued its impressive multiday rally, marking a weekly gain of over 62%. Key drivers of this surge include the launch of xPortal, a new payment card on the Mastercard network.
Data from DefiLlama reveals that Sui Network’s total value locked (TVL) has surpassed $1.6 billion, representing a 9% increase in the last 24 hours. Additionally, the network’s decentralized exchange (DEX) saw a significant uptick in activity, with 24-hour trading volume reaching $599 million—a 35% growth compared to the previous week.
