Bitcoin $100,000 strike call options were traded in a significant block trade today, with more than 600 options changing hands. Traders speculated on a notional value of up to $45 million, with premiums worth $8.5 million alone. This indicates a strong belief in Bitcoin’s price reaching or surpassing $100,000, reflecting a bullish sentiment in the cryptocurrency market.

Bitcoin recently surged past the $70,000 mark, inching closer to a new all-time high. The sudden spike in price led to a significant increase in implied volatilities (IVs) across various terms, with Bitcoin’s Daily Volatility (Dvol) now exceeding 78%. Market sentiment has quickly shifted to a positive outlook, with a long atmosphere prevailing.

Bitcoin’s daily trading volume rose by nearly 80% today, driven by a 4% increase in price, pushing BTC past $71,000. This positive momentum is further fueled by a week of approximately $570 net inflow in spot Bitcoin ETFs, indicating growing investor interest in the cryptocurrency.

As Bitcoin’s halving event approaches, where the rate of new bitcoins being created is reduced, market anticipation for new all-time highs, potentially hitting $100,000, continues to build. The halving event typically increases the cryptocurrency’s value due to its limited supply, adding to the excitement among investors and market observers.

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