Bitcoin call options ahead of February's end-of-month expiry are concentrating at strike prices above the $50,000 mark, even as the price of the world's largest cryptocurrency by market capitalization declined below that threshold on Tuesday amid new inflation data coming out of the U.S.

There is a notable concentration of open bitcoin call options at strike prices of $60,000, $65,000, and $75,000 leading up to the end-of-month expiry on February 23, according to Deribit data.

"The strike price with the second highest open interest is $60,000 and the current day second highest options contract in terms of volume traded is bitcoin call options …