The '$300K Bitcoin Lottery' Grows Even Bigger as Traders Chase Upside – Time to Step Back?

Earlier this month, CoinDesk highlighted the rising demand for the Deribit-listed $300,000 bitcoin BTC call option, noting it as one of the most popular bullish plays for the all-important June quarter expiry.Now, this bet has become the most popular in the impending quarterly expiry, reinforcing its appeal as a "lottery ticket" for traders anticipating a bitcoin price rally above $300,000 by the end of the next month.At press time, the $300,000 call option was the most popular bet in the June 27 expiry, with a notional open interest of over $600 million, up from $484 million three weeks ago, according to data source Deribit. Notional open interest represents the dollar value of the number of active or open contracts at a given time source: https://www.coindesk.com/markets/2025/05/27/the-usd300k-bitcoin-lottery-grows-even-bigger-as-traders-chase-upside-time-to-step-back