As market sentiment improves, the Bitcoin options market is showing a clear shift. Call options with an strike price of $80,000 on Deribit have become the most popular trade, with open interest exceeding $1.6 billion, surpassing the previously dominant $60,000 put options (open interest of approximately $1.41 billion). Analysts believe that the recent temporary ceasefire between the US and Iran, which has driven down oil prices and eased inflation expectations, may strengthen market expectations for a Federal Reserve rate cut, thus benefiting risk assets including Bitcoin. Asset management firm 21Shares stated that with continued inflows into ETFs and increased institutional holdings, if geopolitical tensions ease and the regulatory environment improves, Bitcoin could potentially reach $100,000 by the end of the second quarter. However, risks remain. The current ceasefire is fragile, and if the conflict in the Middle East escalates again, a rebound in oil prices could dampen market risk appetite, thus limiting Bitcoin's upside potential. (CoinDesk)