BTC options market turns bullish as $80K calls see surge

The Bitcoin options market is signaling a bullish turn, with $80,000 call options now holding the largest open interest, CoinDesk reported. According to Deribit data, open interest for calls with an $80,000 strike price has surpassed $1.6 billion, exceeding the $1.41 billion in open interest for $60,000 put options, which had been the focal point during the market downturn. Positive on-chain signals are also emerging, as whale addresses holding more than 10,000 BTC have recorded net buying activity. Some analysts have suggested that Bitcoin could potentially reach $100,000 by the end of the second quarter if certain triggers materialize, such as an easing of geopolitical tensions and greater regulatory clarity. However, the outlet added that risks remain, including the fragile U.S.-Iran ceasefire and potential volatility from key economic indicators like U.S. fourth-quarter GDP. A breakout above the resistance from the downtrend line that began at $126,000 last October will be crucial in determining the market's future direction.