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Bitcoin (BTC) 
$104,007 reached an all-time high yesterday with the launch of IBIT BTC ETF options. At the time of writing, BTC remains near this record level. Demand for options is very high, with 75% of positions in call options. This indicates that professional traders expect further upward movement in options.
MicroStrategy Plans More Bitcoin Purchases
MicroStrategy announced that it has increased its previously announced bond offering from $1.75 billion to $2.6 billion, with the closing date set for November 21. The company, which purchased $4.6 billion worth of BTC last week, plans to use a significant portion of the funds from the new bond issuance to buy more BTC. This large purchase around $88,000 last week created significant excitement in the markets.
Historical Trends Favor Bitcoin’s Price Stability
Although the news of the company’s purchases may cause temporary price dips, historical data shows that the points where MicroStrategy bought have often marked local bottoms, followed by significant gains. Therefore, the $88,000 mark could remain a local bottom for several months, potentially allowing BTC to reach six-figure targets before any price corrections occur.
