Bitcoin Traders Eye $100K Milestone as Trump Inauguration Sparks Bullish Bets
Bitcoin (BTC) traders are preparing for a potential surge to record highs following President-elect Donald Trump’s inauguration on January 20.
This weekend, a trader on Deribit made a bold move, spending over $6 million on $100,000 strike call options set to expire on March 28, according to data from Amberdata.
“This position reflects strong confidence that Bitcoin could break new all-time highs shortly after Trump takes office,” Amberdata stated on X.
Additionally, the $120,000 strike remains highly active among traders, with open interest exceeding $1.52 billion, underscoring expectations for a significant price rally.
Call options allow traders to lock in a price to purchase Bitcoin in the future, signaling bullish sentiment and anticipation of outsized gains.
Currently, Bitcoin is trading above $99,500, rebounding 8% from its December low of $91,384, according to CoinDesk and TradingView data.
“The period around Trump’s inauguration is seen as a key window for potential market-friendly policy announcements, which could serve as a catalyst for Bitcoin’s upward trajectory,” said Greg Magadini, Director of Derivatives at Amberdata.
In a recent report, CF Benchmarks highlighted that a restructured SEC, under a potentially pro-crypto administration, might ease regulatory hurdles and encourage broader institutional adoption.
“While we expect regulatory improvements to support long-term growth, any delays or policy uncertainty could temporarily dampen market enthusiasm,” CF Benchmarks cautioned.
Bitcoin previously rallied from $70,000 to over $108,000 following Trump’s election victory in November. However, momentum slowed in late December due to profit-taking and cautious monetary policy signals from the Federal Reserve.
