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One of the standout topics is the astonishing bullish sentiment among Bitcoin options traders. Traders are betting on Bitcoin surpassing $100,000 by September 2024—roughly five months from now. The aggregated Bitcoin options data reveals a strike price of approximately $105,000, implying a significant expectation for a 64% increase from current levels around $64,000.
This level of optimism isn't unfounded, considering that in past cycles, option traders have been highly accurate, with previous predictions hitting their marks within tight margins. While a 64% rise in less than half a year is ambitious, it remains within the realm of possibility, especially given the current macroeconomic environment and historical patterns.