Options Bitcoin: U.S. elections Drive Up Bids

The American presidential elections have always had a considerable impact on financial markets, and this year is no exception. In November, all eyes are on Bitcoin, the flagship cryptocurrency, whose evolution is being closely watched. With nearly $350 million already placed in Bitcoin options linked to the elections, speculators are betting big on the future of the digital asset market. And this is just the beginning!

$345 million in Bitcoin options for the US elections

Gone are the days when Bitcoin suffered the effects of options expiration. Currently, crypto traders have rushed to Bitcoin options in anticipation of the American elections in November, hoping to capitalize on post-election volatility. With $345 million already committed, the market seems to be bubbling with optimism.

Approximately 67% of these contracts are call options, indicating unwavering confidence in the rise of Bitcoin. Moreover, as highlighted by Wintermute, an algorithmic trading firm:

“The current distribution of options shows a bullish sentiment, with twice as many call options as put options.”

For the more daring, the $80,000 call option remains a favorite, with over $39 million in open interest. The figure might be amusing, but it testifies to the great optimism prevailing among investors.

There is also marked interest in options with higher strike prices, with some even betting on Bitcoin reaching $140,000. In short, the market isn’t short of dreamers!

• $345 million committed to Bitcoin options linked to the elections.
• 67% of these contracts are call options.

Crypto options, between hope and protection

But it’s not all rosy in the crypto world. Despite the optimism, some investors prefer to keep a foot on the ground (or in the mine) by hedging against potential price drops.

Thus, $39 million has been placed in put options at the price of $45,000, a safety net in case of a sharp market drop. Interest in these lower-priced options reflects a certain caution among traders, even though optimism clearly dominates.

The phenomenon of election-dedicated options is quite recent, but it is quickly gaining popularity.

Investors see it as a unique opportunity to speculate on the impact of the elections on the digital asset market. And with the huge enthusiasm for high-priced options, it seems that many are betting on Bitcoin reaching new highs just after the elections. However, the presence of put options shows that there is still a cautious minority, ready to protect against electoral surprises.

Beyond Bitcoin, the world of crypto strongly influences the American elections, adding an unexpected dimension to investors’ strategies.