Bitcoin is progressively being considered as the new 'digital gold' as capital shifts from traditional safe-haven assets.
Bitcoin's market capitalization has surged to $1.73 trillion, contributing to its growing attractiveness as a hedge asset.
If even 1% of the capital invested in gold migrates to Bitcoin, it could drive Bitcoin's value to approximately $97,000.
Investors are showing interest in far-out strike prices at $110,000 and $120,000, indicating a demand for margin positions and leverage in Bitcoin options.