Options traders are anticipating more gains for Bitcoin as the US presidential election approaches 🇺🇸📈.

In an interview with The Block, André Dragosch, Bitwise's European Head of Research, mentioned that Bitcoin options traders are increasingly targeting expiration prices above $80,000 for contracts expiring in November. This surge in interest comes as the US election and a crucial Federal Reserve meeting draw near.

The rising probability of Donald Trump winning the election is seen as a bullish factor for Bitcoin, contributing to its upward momentum 📊💸. This optimism is leading traders to expect even more gains in the coming weeks.

"The market is bracing for two major events next month: the US presidential election on November 5 and the Federal Reserve's interest rate decision on November 8," Dragosch said.

Data from Deribit also shows a strong focus on call options expiring on November 29, with over 3,100 contracts betting on Bitcoin reaching between $80,000 and $82,000 📅💡.

The Fed is expected to cut interest rates by 25 basis points at its meeting on November 8, adding even more excitement to the mix for Bitcoin traders 🚀💥. #Bitcoin❗ #bitcoin☀️ #BTC☀ #BinanceSquareFamily #Cryptocurrencies