Bitcoin continues to hit new highs as options traders target $120000

According to Golden Finance, Bitcoin has once again hit a historic high, and options traders are now targeting higher price ranges. As Bitcoin broke through the $113000 mark for the first time, open contracts on the Deribit exchange were clearly concentrated towards call options with strike prices of $115000 and $120000. The longer term options expiring at the end of September and December have extended the open interest to strike prices of $140000 and $150000. This breakthrough surge, driven by institutional demand, once again confirms the judgment of cryptocurrency bulls since the US election in November last year that Trump's return to power will usher in a new era of loose regulation. The options market is reflecting strong bullish sentiment, "said Chris Newhouse, research director at DeFi trading firm Ergonia