Bitcoin's Meteoric Rise: Will It Soar Beyond $90K?

Over $2.8 Billion Bet on Bitcoin Topping $90,000 as It Hits All-Time High

The cryptocurrency market is buzzing with excitement as Bitcoin reaches a new all-time high near $81,000. According to CNBC's report titled "Over $2.8 billion bet on bitcoin topping $90,000," investors are optimistic about the future of the world's largest cryptocurrency following recent U.S. elections that saw pro-crypto candidates gain office. The open interest in Bitcoin futures surpassing $90,000 has risen significantly on Deribit derivatives exchange, indicating strong investor confidence.

Vetle Lunde from K33 Research highlighted that call options trade at a premium and there’s growing open interest in out-of-the-money calls—suggesting continued bullish momentum for Bitcoin prices. Meanwhile, CME premiums for ether and bitcoin have doubled since before the election results were announced—a sign of increasing institutional involvement through futures contracts offered by exchanges like CME Group.

The Crypto World Is Preparing for a Renaissance Under Trump

A renaissance period may be dawning upon cryptocurrencies under President-elect Donald Trump's administration according to an article by The Wall Street Journal titled "The Crypto World Is Preparing for a Renaissance Under Trump." With promises such as turning America into “the crypto capital” alongside plans involving national stockpiles worth billions seized via asset forfeitures or slashing rates which typically boost digital currencies' values—the stage seems set favorably towards growth within this sector during his tenure starting January next year when he assumes office officially once again after winning against incumbent Joe Biden earlier last month amidst tight competition between both parties vying control over Congress too!

Bitcoin Hits New All-Time High: How Long Until $300,000?

An intriguing analysis published by crypto.news explores whether we might soon witness another surge pushing BTC past even higher thresholds beyond its current record-breaking levels achieved recently around mid-November 2024. In their piece entitled "Bitcoin hits new all-time high: How long until $300k?" VanEck CEO Jan van Eck speculates potential valuations reaching half total outstanding gold reserves globally could eventually translate roughly equivalent amounts per unit basis equating approximately three hundred thousand dollars each coin someday down the line given enough time passes without major disruptions affecting broader economic landscape negatively impacting demand dynamics underlying these assets. Fundamentally speaking, looking ahead optimistically forward-thinking strategically planning accordingly based on insights gathered thus far throughout ongoing developments unfolding rapidly across various fronts worldwide today.

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Article Summary

Bitcoin has reached a new all-time high near $81,000 with over $2.8 billion bet on it surpassing $90,000, driven by investor optimism and increased institutional involvement following pro-crypto election results in the U.S., while speculation grows about its potential to reach even higher valuations like $300,000.