Gate News message. On April 9, the Bitcoin options market saw a clear shift. On the Deribit platform, the open interest in call options with a strike price of $80k exceeded $1.6 billion, surpassing the $60k put options that had previously dominated the market (with open interest of about $1.41 billion), becoming the most popular trading product in the market right now. The recent phased ceasefire between the U.S. and Iran pushed oil prices lower, easing inflation expectations. Market expectations for interest-rate cuts by the Federal Reserve strengthened, benefiting risk assets including Bitcoin. Asset manager 21Shares said that, amid ongoing ETF inflows and rising institutional positions, if the geopolitical situation calms down and the regulatory environment improves, Bitcoin could be on track to surge to $100k by the end of the second quarter. However, the current ceasefire situation is relatively fragile; if the Middle East conflict escalates again, an oil-price rebound could curb market risk appetite, thereby limiting Bitcoin’s upside potential.
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