BTC Options Market Optimistic About US Elections, Anticipating Bullish Trend
CryptoNewsTerminal Staff19 Aug, 2024
BTC Options Market Optimistic About US Elections, Anticipating Bullish Trend
The upcoming US elections have sparked optimism among Bitcoin (BTC) options investors, with data suggesting they anticipate a bullish trend. According to data from Ember Data, the open interest (OI) in BTC options expiring within four days of the November elections has reached nearly $350 million. Call options, which bet on a price increase, constitute 67% of the total OI. Wintermute, a leading cryptocurrency market maker, explains that "the current put-call ratio is below 0.50, which means that investors are expecting the outcome of the election to be bullish for the market." This surge in bullish sentiment aligns with the broader trend in the crypto market, where BTC has recently regained the $12,000 mark and other major cryptocurrencies have followed suit.
