Bitcoin

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<p dir="ltr">According to CoinGlass data, Bitcoin open interest has hit a new all-time high peak of $37.66 billion.&nbsp;</p>
<p dir="ltr">Open interest refers to the total dollar amount of outstanding Bitcoin futures or options contracts.&nbsp;</p>
<h2 id="options-traders-are-eyeing-a-new-record-peak">Options traders are eyeing a new record peak</h2>
<p dir="ltr">According to a recent&nbsp;<a href="https://finance.yahoo.com/news/bitcoin-options-traders-set-sights-204614098.html" rel="noopener noreferrer nofollow">report</a> by Bloomberg, options with a strike price of $75,000 have managed to accumulate the most open interest due to traders anticipating a major rally.&nbsp;</p>
<p dir="ltr">Options with a strike price of a whopping $100,000 also rank high by open interest. This indicates strong bullish sentiment among Bitcoin traders.&nbsp;</p>
<p dir="ltr">The world's largest cryptocurrency is currently trading at&nbsp; $71,203 after peaking at $71,756 earlier this year.&nbsp;&nbsp;&nbsp;</p>
<p dir="ltr">As&nbsp;<a href="https://u.today/bitcoin-btc-price-predicted-to-reach-100000-by-mike-novogratz" rel="noopener noreferrer nofollow">reported by U.Today</a>, Mike Novogratz has repeatedly predicted that the flagship cryptocurrency could potentially surpass the $100,000 level. However, the bulls have to pull off a breakout above the make-it-or-break-it $73,000 level in the near future for this to happen.&nbsp;</p>
<h2 id="institutions-are-only-getting-started">Institutions are only getting started&nbsp;</h2>
<p dir="ltr">Meanwhile, Bitcoin exchange-traded funds have recorded their 18th consecutive day of inflows. On Thursday, these products received $215 million in fresh money.</p>
<p dir="ltr">Despite the fact BlackRock's IBIT managed to record $800 million worth of inflows just over the past week alone, prominent ETF analyst Nate Geraci believes that institutional investors have just started:</p>
<p dir="ltr">"Not a view on price, but I believe advisors &amp; inst’l investors are only just beginning to show up," Geraci said on the X social media network.</p>

Bitcoin Open Interest Hits New All-Time High

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