Option Traders Bet On Bitcoin’s Price Topping $82,000

Option traders are expressing confidence in Bitcoin's price reaching $82,000 U.S., with Wall Street investors placing bets on the cryptocurrency's upward trajectory. The call-option contracts, which anticipate Bitcoin's price surpassing $82,000 U.S. before September 4, are growing in popularity. One trader has even spent $2.9 million U.S. on these options.

Bitcoin's price has been on the rise, briefly hitting $80,995 U.S. before dipping to $79,150 U.S., and has increased by nearly 25% in the past week. Analysts caution that Bitcoin may face resistance at the $80,000 U.S. mark, with the current trading range appearing to be between $74,000 U.S. and $80,000 U.S. following the cryptocurrency breaking past $65,000 U.S. resistance earlier.