Bets on Bitcoin hitting $80K are on the rise, The Block reports

An increasing number of traders in the Bitcoin options market are betting on a recovery to $80,000, The Block reported. The outlet noted that on March 11, Bitcoin stabilized around $70,000, moving past volatility caused by war. Additionally, the U.S. February Consumer Price Index (CPI) came in line with forecasts, contributing to the trend. "Based purely on the size of positions built in the options market, the probability of Bitcoin recovering to $80,000 by the end of June is about 35%," The Block stated. "It seems options traders are now anticipating that months of heavy selling have passed and the worst is over."