Bitcoin options traders are anticipating the possibility of Bitcoin reaching new all-time highs, with 97% of the $8.3 billion in put options expiring worthless if BTC remains above $101,000. A surge above $105,000 could trigger a rally, potentially surpassing the current all-time high of $109,354. Various bullish strategies, such as bull put spreads, are being utilized, indicating traders are optimistic about future price movements. Although current bearish sentiment in the futures markets exists, a sustained price level around $100,000 may incentivize bullish traders to support upward momentum, while forcing short sellers to close their positions. Meanwhile, the carry trade strategy remains limited due to the low Bitcoin futures premium. Overall, a combination of bullish options interest and potential short covering could position Bitcoin favorably for a price breakout in the upcoming months. This analysis does not constitute financial advice and reflects only the author's perspective.

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