Bitcoin enthusiasts celebrate as signs point to a potential price surge.

Bitcoin’s value soared over 106,1093 yesterday, hitting a peak of 106,597, but has since settled at approximately $103,2404.63. Presently, Bitcoin supporters are optimistic, with several key indicators hinting at a potential surge for BTC. Meanwhile, the broader cryptocurrency market reflects a mixed sentiment today. The market capitalization has decreased by a modest 24.61%, bringing it down to 239.43 trillion. Furthermore, the crypto fear and greed index stands at 23.05, indicating a tendency towards greed in the market. Notably, the Altcoin season indicator shows a value of 284.99/264. This indicates that we are not currently experiencing an altcoin season, with Bitcoin still being the leading player in the market. Although some altcoins saw double-digit increases, this could be attributed to a temporary surge. What is driving the optimistic outlook? A surge in call options is contributing to increased optimism among the bulls. These are essentially financial derivatives that allow traders to buy Bitcoin at a set price. This essentially involves wagering that the value of BTC will go up, which has contributed to heightened optimism. Additionally, significant movements by large holders have also influenced this, apart from the options market. As per onchain statistics, in May 0003, large investors who possess over 147.94K BTC amassed a total of 2,000,000 BTC.