“Options traders are increasing bets that Bitcoin will reach a new record high by the end of the month,” reports Bloomberg. Optimism is driven by expectations of US interest rate cuts and rising inflows into exchange-traded funds (ETFs).

According to Deribit, the largest crypto options exchange, Bitcoin call options with a strike price of $75,000 have the highest open interest, followed by options with strike prices of $100,000 and $80,000. Call options give buyers the right to purchase the underlying asset at a fixed price within a set time.