Crypto options traders are optimistic that Bitcoin may reach new highs by the end of November, regardless of the outcome of the U.S. presidential elections. While many traders viewed a potential Republican win from Donald Trump as a positive omen for the crypto market due to his pro-crypto stance, there is growing sentiment that Bitcoin could rise irrespective of the winner, as macroeconomic factors come into play. Traders have noted that both candidates have made attempts to appeal to crypto enthusiasts, leading to an overall positive market sentiment ahead of the elections. Recent trends like the first Federal Reserve rate cuts in four years and a rally in stock prices support the theory that Bitcoin could surpass its all-time high and hit $80,000. Options traders have shown significant interest in $75,000 to $80,000 strike prices leading up to the election. However, some analysts suggest that buying these options may reflect an election hedge rather than a straightforward bullish outlook.

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