Bitcoin price forecast as traders bet on $80,000 next

• Bitcoin trades above $70,700 as derivatives data shows $80,000 calls dominating on Deribit.
• BTC rebounded to near $72,900 on Wednesday as a US-Iran ceasefire eased oil pressures.
• Analysts see end of stress cycle, targeting $80,000 if $75,000 breaks.

Bitcoin’s resurgence to above $70,000, with intraday highs of $72,900, has crypto enthusiasts in an upbeat mood. The cryptocurrency hovers near $70,800 as of writing, off highs seen on Wednesday, but bulls are upbeat as fresh market signals point to a potential breakout.

Traders bet on next leg up for Bitcoin

Bitcoin is well off its year-to-date highs and has struggled since breaking lower in late January 2026. Bears are therefore still on the hunt.

However, this week has investor sentiment shifting bullish, fueled by the US-Iran ceasefire and key activity in Bitcoin derivatives. Data suggests investors are eyeing a potential rally to $80,000.

Options data from Deribit, the platform that accounts for the lion’s share of the global crypto options market, shows bullish bets on prices surging to $80,000 have increased.