Open interest in Bitcoin $80,000 call options on Deribit has surpassed $1.6 billion, reflecting growing market optimism for a rally and potential Federal Reserve rate cuts. This marks a shift from the previously dominant $60,000 strike put options, which held open interest of approximately $1.41 billion. Analysts attribute this trend to easing inflation expectations following a temporary U.S.-Iran ceasefire, which has led to lower oil prices. Asset manager 21Shares highlights that continued ETF inflows and rising institutional holdings could propel Bitcoin to $100,000 by the end of Q2, provided geopolitical tensions ease and regulatory conditions improve. However, the fragile ceasefire poses risks; renewed Middle East conflicts could drive oil prices up, potentially curbing Bitcoin's upward momentum.