Bitcoin's $80,000 call options open interest exceeds $1.6 billion. Market betting reversal resonates with interest rate cut expectations

According to market news, as market sentiment warms up, the Bitcoin options market is taking a clear turn. Call options with an exercise price of US$80,000 on Deribit have become the most popular trade, with open interest exceeding US$1.6 billion, surpassing the US$60,000 put options (Put) that previously dominated the market (approximately US$1.41 billion open interest). Analysts believe that the recent phased ceasefire between the United States and Iran has pushed oil prices down, alleviated inflation expectations, or enhanced market expectations for the Federal Reserve to cut interest rates, thereby benefiting risky assets including Bitcoin. In addition, asset manager 21Shares said that against the background of continued inflows of ETF funds and increased institutional positions, if the geopolitical situation eases and the regulatory environment improves, Bitcoin will not rule out a hit of US$100,000 at the end of the second quarter. However, there are still risks in the market. The current ceasefire situation is relatively fragile. If the conflict in the Middle East escalates again, a rebound in oil prices may curb market risk appetite and thus limit Bitcoin's upside.