<ul data-eligibleForWebStory="false"><li>Bitcoin breached $116,000 for the first time, leading options traders to target higher prices, particularly focusing on call options with $115,000 and $120,000 strike prices.</li><li>Liquidations in short positions accelerated after Bitcoin surpassed $116,000, with significant amounts being liquidated over short timeframes.</li><li>The rally in Bitcoin is attributed to factors such as bullish comments by President Donald Trump over his Truth Social site and rising demand from recently launched crypto treasury companies.</li><li>The funding rate in the Bitcoin perpetual futures market remains positive, signaling more demand for bullish positions, while Bitcoin continues to rise amidst macro headwinds and tensions.</li></ul>

Bitcoin Extends Record Run While Options Traders Target $120,000

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