Bitcoin has surpassed $116,000, continuously breaking its all-time high.
On the 11th (local time), according to major cryptocurrency exchanges, Bitcoin broke $112,000 the previous day, and in just one day, it climbed an additional $4,000 to exceed the $116,000 mark.
Bitcoin option traders are already expecting higher prices.
According to Bloomberg, the open interest at the Deribit exchange has concentrated on Bitcoin call options with strike prices of $115,000 and $120,000.
Experts analyzed that the rising trend is driven by increasing institutional demand for Bitcoin.
Chris Newhouse, head of research at Ergonia, noted, “Bitcoin is leading a new bullish trend in the options market.”
President Donald Trump also provided upward momentum with positive comments regarding cryptocurrencies.
Trump posted on Truth Social the previous day, stating, “Tech stocks, industrial stocks, and the Nasdaq have reached all-time highs,” and added, “Cryptocurrencies are breaking through the ceiling.”
The Trump administration has consistently introduced cryptocurrency-friendly measures during its second term. The congressional committee declared the second week of July as 'Cryptocurrency Week.'
Bitcoin has already risen about 25% this year.