Options traders on the iShares Bitcoin Trust (IBIT) Bitcoin ETF, issued by BlackRock, are betting on the Bitcoin price rising to $174,000.

Following IBIT's listing on the Nasdaq exchange, during the first trading session, traders created:

70 million call options to purchase IBIT shares at $100 until the end of 2026;
30 million call options to purchase IBIT shares at $100 until the end of 2027.

If IBIT shares rise in price to $100, then the value of Bitcoin will reach approximately $174,000. Accordingly, it can be assumed that 70% of traders predict an increase in the price of BTC to this level within the next two years. Many analysts believe that the upward trend in the digital asset market will last until November next year at the latest. In this regard, options may be exercised much earlier than the expiration date of the contracts.

Meanwhile, the Bitcoin market has resumed its bullish rally. As expected, the BTC rate has broken through the upper line of the contracting triangle, rushed upward and is already at $96,887. Judging by the width of the figure and the place of the breakout, the value of the coin should increase to $98,730. But, most likely, the price of the cryptocurrency will reach the golden ratio at $102,000 and then begin to correct.

Possible change in the Bitcoin rate📈