Bitcoin open interest has reached a new all-time high of $37.66 billion, according to CoinGlass data. This significant milestone indicates that traders are anticipating a significant rally in the world's largest cryptocurrency.

The recent report by Bloomberg suggests that options with a strike price of $75,000 have accumulated the most open interest, further indicating strong bullish sentiment among Bitcoin traders. Options with a strike price of $100,000 also rank high in open interest, indicating that traders are optimistic about the potential for Bitcoin to surpass the $100,000 level.

The current price of Bitcoin is $71,203, having peaked at $71,756 earlier this year. Mike Novogratz has repeatedly predicted that Bitcoin could potentially surpass the $100,000 level. However, for this to happen, the bulls would need to achieve a breakout above the critical $73,000 level in the near future.

Meanwhile, Bitcoin exchange-traded funds have recorded their 18th consecutive day of inflows, receiving $215 million in fresh money on Thursday. Despite BlackRock's IBIT recording $800 million worth of inflows over the past week alone, prominent ETF analyst Nate Geraci believes that institutional investors are just beginning to show up. He stated, "Not a view on price, but I believe advisors & inst'l investors are only just beginning to show up," on the X social media network.

In conclusion, the recent surge in Bitcoin open interest and the continued inflows into Bitcoin ETFs indicate strong bullish sentiment among traders and institutional investors. The potential for Bitcoin to surpass the $100,000 level is high, but it will require a breakout above the critical $73,000 level in the near future.