Crypto options market sees large bullish bets as market anticipates Bitcoin will hit record highs after Trump's inauguration

avatar
TechFlow
3 days ago
This article is machine translated
Show original

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.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
2
Add to Favorites
Comments