QCP: The election will once again be a "good news is out" market, and traders are increasing downside protection positions
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QCP Capital stated that although BTC fell below $69,000 on Friday, market interest remains strong, with the total open interest of BTC futures and BTC options standing at $40.65 billion and $25.3 billion respectively. The short-term implied volatility is above 72%, and the put-call skew of BTC and ETH has increased during the election week, with traders adding more downside protection positions. Although Trump is widely expected to become the next US president, his odds of winning in the prediction market have fallen from a high of 66% to 57%, while Harris' support rate is 43%. Regardless of the outcome, we believe the election will see a "buy the rumor, sell the news" scenario, similar to the situation after the Nashville BTC conference.
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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.
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