Bitcoin is just above 80K and it feels like some momentum has been built up. Last week we saw BTC rise from 79K to here, so approximately 1.2% gain on a weekly basis. ETH and SOL are moving a bit more slowly, ETH is around 2.33K and SOL around 95. Dogecoin is interesting - last week it was the big winner with that 12% increase, but now it’s down 3% on a weekly basis. Still, DOGE remains one of the more volatile players at the moment.

What’s interesting is what’s happening under the hood at the options desks. I see that quietly many cheap call spreads have been built - those structures where you bet on Bitcoin gradually rising without going wild. These positions have now made money because we’ve broken through that 80K barrier. If Bitcoin truly breaks through here and stays stably above 80K, you’d see the risk-reversal indicators shift from negative to positive. That would mean the market is really moving from cautious to bullish.

The macro environment isn’t helping much - Iran tensions, oil moving wildly, but in fact central banks are stabilizing. The Fed and others kept interest rates steady last week. On Tuesday, earnings reports come out, and on Friday, the US employment figures. That kind of data can move Bitcoin significantly if the surprise is big enough. So we’re basically in a waiting-for-catalysts phase, but that options activity suggests insiders are still expecting further gains. DOGE and other alts follow BTC naturally, so if Bitcoin really gains momentum here, we could see DOGE and the rest also go up.