Bitcoin hit a record high of US$125,900 on October 7, rising 2.5% and more than doubling year-on-year.

Options traders have clustered open interest in short-term calls at the US$140,000 strike price toward the end of the year, according to Deribit by Coinbase.

There has also been a moderate rise in demand for puts as traders seek protection from possible price drops.

Open interest in Bitcoin futures and perpetual contracts hit US$75 billion across exchanges, with heavy trading on Binance and CME.

Investors added US$3.2 billion to 12 US Bitcoin ETFs last week, the second-largest inflow since their launch in 2024.

The notional open interest on BlackRock’s iShares Bitcoin Trust ETF reached a record US$49.8 billion on Friday.

Bitcoin’s latest rally coincided with a US government shutdown, which has driven demand for perceived safe-haven assets and delayed the release of key economic data.

Ether rose 5% to US$4,700, while XRP traded just above US$3.

🔗 Source: Bloomberg