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Crypto Options Traders Bet on Bitcoin to Reach Fresh Highs by End of November

According to Bloomberg, options traders in the crypto market are increasingly betting on bitcoin reaching new highs by the end of November. The $75,000 strike price has the highest open interest for options expiring on November 8, indicating a significant area of focus for the market during that time. Despite the upcoming U.S. presidential election, some traders believe that bitcoin will surpass its previous highs in the coming weeks. The rise in stablecoin liquidity and bitcoin transactions in October may contribute to this bullish sentiment.

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