The open interest for Bitcoin's $80,000 call options exceeds $1.6 billion, as the market bets on a reversal in trends and resonates with expectations of interest rate cuts

According to market news, as market sentiment improves, the Bitcoin options market is showing a significant shift. The call options with a strike price of $80,000 on Deribit have become the most popular trades, with an open interest exceeding $1.6 billion, surpassing the previously dominant $60,000 put options (with an open interest of about $1.41 billion). Analysts believe that the recent temporary ceasefire between the U.S. and Iran has driven oil prices down, easing inflation expectations, which may enhance market expectations for a rate cut by the Federal Reserve, thus benefiting risk assets including Bitcoin.

Additionally, asset management firm 21Shares stated that with continued inflows into ETFs and increased institutional holdings, if geopolitical tensions ease and the regulatory environment improves, Bitcoin could potentially hit $100,000 by the end of the second quarter. However, risks remain in the market; the current ceasefire situation is relatively fragile, and if the conflict in the Middle East escalates again, a rebound in oil prices could suppress market risk appetite, thereby limiting Bitcoin's upside potential.