TechFlow reported that on January 6, according to CoinDesk, the cryptocurrency options market saw a large bullish bet, with a trader investing over $6 million to purchase a Bitcoin call option with a strike price of $100,000 on Deribit, expiring on March 28.
Data analytics firm Amberdata noted that this reflects the market's expectation that Bitcoin will reach a new all-time high after Trump's inauguration. Currently, the $120,000 strike price call option has become the most popular contract on Deribit, with an open interest notional value of $15.2 billion.
Amberdata's Derivatives Director, Greg Magadini, stated in a weekly report that the period around and after Trump's inauguration ceremony is likely to be a golden time for the release of bullish policies, which could serve as a catalyst for Bitcoin's price increase.
Cryptocurrency index provider CF Benchmarks held a similar view in their annual report, suggesting that a crypto-friendly leadership at the SEC may reduce enforcement risks, simplify compliance requirements, and boost investor confidence. However, the firm also warned that policy implementation delays could lead to short-term volatility.