Bitcoin fell below $100,000 in June due to the tensions in the Middle East. However, following the positive news, it rose to $109,000. After a highly volatile June, investors turned to July for bullish sentiment. At this point, one analyst said that options traders are betting on a major July bullish trend in Bitcoin and Ethereum. Sean Dawson, head of research at derivatives exchange Derive.xyz, said that implied volatility for Bitcoin (BTC) and Ethereum (ETH) decreased in June, leading investors to expect a sharp rally in July, The Block reported. “Bitcoin and Ethereum also experienced major declines on June 13 and 22, when tensions in the Middle East escalated. But temporary volatility spikes showed us that markets were betting on a limited decline. And that's exactly what happened. The decline was temporary and BTC, ETH recovered.” At this point, Dawson said that the decrease in volatility and the limited decline in June motivated option investors to move upwards. Dawson stated that Drive.xyz options data presents a relatively more balanced outlook for Bitcoin but shows stronger bullish momentum for Ethereum. According to the data, approximately 80% of July call options for Ethereum are above $3,000. “Traders are betting on a big July with subdued volatility and bullish position splits All eyes are now on the Fed, macro data and further geopolitical developments. ETH has a stronger momentum narrative, but BTC's options market is at a turning point. “Because nearly half of all open interest expiring on July 25 is in calls at $130,000 to $135,000, and the other half is in puts at $85,000 to $90,000. That equates to a major breakout for BTC.” *This is not investment advice. Continue Reading: What to Expect for Bitcoin (BTC) and Ethereum (ETH) in July? Will There Be a Big Rise? Analyst Explains!