Traders are facing the challenge of identifying key resistance levels for Bitcoin and XRP as both assets reach new all-time highs. One way to identify these resistance levels is by studying the distribution of open interest in option contracts. The $120,000 strike call option for Bitcoin has the highest open interest on Deribit, indicating a potential resistance level. Similarly, the $1 call option for XRP has the highest open interest, with the $2.8 call option as the next potential target. The $500 million locked in the $200,000 strike call suggests a bullish outlook for Bitcoin.



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