Market-leading cryptocurrency bitcoin (btc) hit a new all-time high of $84,000 on Monday amid higher inflows into the digital asset market and expectations of higher gains in the final months of the year.
This surge comes following Donald Trump's recent victory over Democratic candidate Kamala Harris in the US presidential election, with bitcoin seeing a 23% rise over the past week and a 5.5% rise over the past few weeks. 24 hours.
Optimism grows for $100,000 bitcoin
Bloomberg bitcoin–btc-bets” target=”_blank”>information As bitcoin hits a new high, options traders are now targeting the $100,000 mark, speculating it could be reached before the end of the year.
Traders on the Deribit options exchange are particularly active, with big bets being placed on bitcoin reaching this milestone. A notable $100,000 call option set to expire on December 27 has attracted significant attention, with reports indicating that it has already increased in value by 30%.
Nick Forster, founder of Derive, a decentralized financial protocol for options trading, commented: “We are witnessing some significant moves following the US elections.”
As of Monday morning in London, there were approximately 9,635 bitcoin, valued at around $780 million, in open interest tied to bets that bitcoin would reach $100,000 by December expiration.
According to Bloomberg, this represents the largest amount of capital at stake in any trade for that expiration date, and Deribit estimates an 18.6% probability of this trade coming to fruition.
Uptrend linked to anticipated regulatory changes under Trump
Le Shi, managing director of market making firm Auros in Hong Kong, said the current bullish trend in the broader market is due to a series of promises made by Trump during the election campaign.
These include making bitcoin a strategic reserve asset for the US, firing the chairman of the US Securities and Exchange Commission (SEC) on his first day in office, and introducing a clearer regulatory framework to support market growth.
Shi believes that the combination of favorable market conditions, growing institutional interest and a favorable regulatory environment under the Trump administration could create a favorable context for further price appreciation.
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At the time of writing, btc is trading at $84,122.
Featured image of DALL-E, chart from TradingView.com
