The price of Bitcoin seems on the brink of blasting past its all-time high (ATH) at the high area of its current levels. The cryptocurrency has been on a bull run due to the launch of spot Bitcoin Exchange Traded Funds (ETF), which officially onboarded institutions to the nascent sector. Related Reading: Shiba Inu (SHIB) Price Skyrockets By 28%: 4 Key Reasons As of this writing, Bitcoin (BTC) trades at around $62,900 with a 3% profit in the last 24 hours. In the previous week, the cryptocurrency recorded a critical 22% profit. It stood as one of the three top gainers in the top 10 by market cap, only surpassed by Solana (25%) and Dogecoin (57%) in the same period. Bitcoin-Based Derivatives Hint At Further Gains Data from the derivatives platform Deribit indicates a spike in long positions by Options operators. Since early February, these traders have accumulated important call (buy) contracts with a strike price above $65,000. At first, as the report indicates, the increase in bullish positions was thought to be part of a Bitcoin “Halving” strategy. However, the BTC ETF Flows seem to b ..
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