Bitcoin Surges Past $100,000: Is This the Start of a Larger Bull Run?

As Bitcoin continues its record-breaking spree, reaching an all-time high of $98,350 and trading at $97,000, investors are left wondering if this is just the beginning of a larger bull run or if market volatility will derail the momentum.

Bitcoin’s Record Breakthrough

Bitcoin has been on a tear lately, smashing past milestones like they were minor speed bumps. In the past two weeks, the cryptocurrency has more than doubled in value, climbing a jaw-dropping 40% and pushing its market cap to an enormous $1.93 trillion.

The surge can be attributed to several factors, including the recent election victory of Donald Trump, which has investors optimistic about the future and has led to an influx of institutional money into Bitcoin-focused spot ETFs in the U.S. Over $4 billion has poured into these funds since the election, with U.S. Bitcoin ETFs logging their third straight day of inflows on November 20, pulling in $773.47 million.

Options Trading Supercharges Bitcoin’s Surge

While spot Bitcoin ETFs have played a massive role in its recent surge, options trading on these funds has introduced a new layer of excitement and influence on the market. BlackRock’s iShares Bitcoin Trust ETF (IBIT), which debuted its options contracts on November 19, has seen nearly $1.9 billion in notional exposure through 354,000 contracts, with 289,000 calls and 65,000 puts.

The overwhelming interest in call options, which accounts for nearly 80% of IBIT’s options activity, indicates strong bullish sentiment among market players. This dwarfs the $363 million achieved on the first day of trading for the ProShares Bitcoin Strategy ETF (BITO), the first Bitcoin futures-based ETF in the U.S.

$100K Bitcoin: Are We There Yet?

Bitcoin is sitting on the brink of an unprecedented milestone: $100,000. With its current price hovering around $96-$97k, it feels like the crypto giant is merely inches away from crossing into six-figure territory.

The Shanghai court’s recent clarification that it’s not illegal for individuals to own crypto, even though businesses are restricted from engaging in crypto-related activities, has sent a strong signal that

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