TechFlow news, October 29 — According to a Cointelegraph report, Bitfinex's latest market report指出 that uncertainty surrounding the U.S. presidential election, the "Trump trade" narrative, and favorable seasonal factors in the fourth quarter are converging into a "perfect storm" driving Bitcoin's price.
At the time of writing, Bitcoin is trading at $71,086, up 4.9% over the past 24 hours, just 3.4% below its all-time high of $73,700 set in March this year. Bitcoin options open interest hit a record high of $41.7 billion on October 29, with significant concentrations of bullish options positioned toward late December, reflecting strong investor expectations for Bitcoin to surpass its previous all-time high following the election.
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