Bitcoin surged past $81,000 during Asian trading hours on Tuesday, reaching its highest level since January this year. Closing Monday’s US session near $79,000, the benchmark cryptocurrency logged an impressive 5.3 percent weekly gain.
Mixed signals across major cryptocurrencies
Other leading cryptocurrencies displayed varied price movements. Ethereum hovered at $2,379 after a slight 0.1 percent intraday dip but still posted a 4 percent rise over the week. XRP dropped by 0.9 percent to $1.40, while Solana slipped by the same margin, settling at $84.84. BNB traded at $626. Dogecoin, after last week’s rally, declined by 1 percent to $0.1117; however, the meme-inspired coin still boasted an impressive 12.4 percent surge over the last seven days. Open interest in Dogecoin futures also remained at yearly highs, according to CryptoAppsy data, confirming strong speculative activity. As of Tuesday morning, Bitcoin was again above the $81,000 mark.
Political tensions and economic backdrop
Bitcoin’s sharp ascent came against a backdrop of mounting geopolitical tensions and shifting macroeconomic conditions. Brent crude retreated to $113 per barrel after a 5.8 percent spike on Monday, while West Texas Intermediate (WTI) hovered near $104. Regional risk escalated following Iran’s controversial missile statements. US Navy ships Truxtun and Mason escorted two American-flagged vessels through the Strait of Hormuz overnight in a move described by US Central Command as a necessary response to “coordinated threats.” Meanwhile, a fuel terminal in Fujairah was hit by an airstrike, further roiling the region.
US President Donald Trump told the Salem News Channel that regional hostilities could continue for another two to three weeks, casting doubt over the previously announced four-week ceasefire.
Rising expectations in options markets
Bitcoin’s rally also ignited a flurry of activity in the options markets. Laser Digital, a market maker for Nomura, shared with CoinDesk that positions targeting higher Bitcoin prices have grown in recent days. Despite subdued volatility over the past week, investors have shown willingness to pay more for protective options guarding against sharp price drops, signaling that fear of a fall still outweighs hope of a new rally.
“Nonetheless, there was quiet demand for low-cost upward bets. Investors have been buying call options that pay off if Bitcoin rises slightly, financing those trades by selling other calls that win big if it surges further. As long as the price does not break through the upper band, this strategy is nearly costless,” according to the firm’s note.
The risk reversal indicator—which measures asymmetric option volatility—has turned negative, confirming prevailing market anxiety about a possible downturn. Should this gauge flip to positive, it could signal a transition from caution to renewed optimism in the crypto markets.
All major central banks kept interest rates steady last week, ensuring that US financial conditions remained within their current range. Key upcoming events include major earnings reports set for release on Tuesday and US nonfarm payroll data due Friday. Any market surprises on these fronts could inject fresh volatility into Bitcoin pricing.
The article “Bitcoin surges above $81,000, options market activity rises” first appeared on COINTURK.
