Odaily News Bitcoin options traders are increasingly focusing on call options with a strike price of more than $80,000 for November expiration, according to an analyst. The market expects two important events to take place next month: the U.S. presidential election on November 5 local time and the U.S. Federal Open Market Committee (FOMC) interest rate decision on November 8. André Dragosch, head of European research at Bitwise, said: "The current largest number of open contracts in Bitcoin options are options expiring on November 8, that is, options expiring on the day of the FOMC meeting and a few days after the U.S. election, with a clear bias towards calls. This supports the hypothesis that Bitcoin options traders are generally preparing for a bullish outcome." The market generally expects the Federal Reserve to announce a 25 basis point cut in the federal funds rate at its meeting on November 8, and the probability of a rate cut is currently 90.2%. A rate cut is likely to increase risk appetite in the broader market, and traders appear to be positioning themselves accordingly in cryptocurrencies. (The Block)