Bitcoin is about to hit a new record.
That’s according to traders who are pouring into bets that the price will climb 20% and hit $125,000 in June.
Over half of the calls on derivatives trading platform Deribit are on trades that only pay out if the top cryptocurrency trades above $125,000 by June 27.
And by the December 26 expiration, 42% of calls are on bets that the price will surge past $170,000.
“There are plenty of signals that there is more to come before the end of the year,” Mena Theodorou, co-founder of Coinstash, a crypto exchange, said in an emailed comment.
Bitcoin is riding several tailwinds, analysts say. Those include growing institutional interest in crypto, political support in the US and elsewhere, and the prospect of liquidity hitting the market.
Depending on who you ask, those factors could drive the price to anywhere between $174,000 and $200,000 by the end of 2025.
The Trump effect
President Donald Trump’s support for the crypto industry — and his own family’s digital assets ventures — is clearly bolstering the bull market.
Last week, Vice President JD Vance and Trump’s two oldest sons headlined the Bitcoin 2025 conference in Las Vegas.
At the same time, Trump Media unveiled plans to raise $2.5 billion to buy Bitcoin, adding to president-linked crypto initiatives that already include memecoins, NFTs, and Bitcoin mining.
Those projects have drawn the ire of political opponents who have labelled them as “open corruption,” but analysts argue they’ve incentivised Wall Street giants to tap into digital assets.
To be sure, the White House’s on-again-off-again trade war with about half the world’s nations is expected to affect Bitcoin’s price in the weeks to come.
Over the past week alone, Bitcoin’s price jumped above $110,000 when Trump delayed tariffs on the EU, only to then slump back around $104,000 after an ongoing legal battle challenged the legality of the tariffs, adding further uncertainty into the market.
“Tariff headlines will continue to make for short term volatility,” said David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mills. They wrote the comment on Sunday in their London Crypto Club newsletter.
They noted, however, that whole tariffs have rattled markets, that they see reason to be bullish.
At the forefront of those reasons? The fact that China keeps pumping liquidity into the market. In May, the Chinese Central bank injected $97 billion into its banking system through an outright reverse repurchase tool, Reuters reported.
“This is all massively stimulative for risk markets and of course Bitcoin,” Brickell and Mills wrote.
Eric Johansson is DL News’ News Editor. Got a tip? Email at eric@dlnews.com.