
Bitcoin options traders have shown increased optimism, with a surge in bullish bets in recent weeks, according to B2C2, a crypto market maker. Market participants have been buying upside call options on Bitcoin, indicating a positive view on the cryptocurrency's future. Notable call options on Paradigm, a crypto derivatives platform, suggest that traders anticipate Bitcoin's price to reach $29,000 in the coming weeks. Interest in Bitcoin has also grown, accounting for 58% of buying interest and 40% of trading volume. This activity is driven by expectations of the approval of a Bitcoin exchange-traded fund (ETF). While the decision on Grayscale's win has yet to be appealed by the US Securities and Exchange Commission, analysts are optimistic about the chances of an ETF approval by the end of the year. Traders remain hesitant about Ethereum, waiting for improvements in the risk landscape or the protocol itself before going long on the cryptocurrency.