Uncertainty in Cryptocurrency Expands Ahead of Trump's Inauguration... 100% Increase in Put Option Bets
Summary
- It was reported that uncertainty in the cryptocurrency market is highlighted ahead of President Trump's inauguration.
- Bitcoin put option bets have increased to account for 40% of all open interest.
- Traders are interpreted to be preparing for downside risks associated with the inauguration.
Uncertainty in the cryptocurrency market is emerging as President Donald Trump's inauguration approaches.
On the 15th (local time), cryptocurrency specialist media The Block cited Deribit data, stating, "As President-elect Donald Trump's second inauguration approaches, volatility in the Bitcoin derivatives market is also expected to increase."
According to data from the derivatives exchange Deribit, there are signs of a short to medium-term bearish outlook. Currently, Bitcoin put option bets have increased to account for 40% of all open interest (OI).
Sean Dawson, head of research at Deribit, explained, "Until last week, Bitcoin put option bets were only at the level of 20% of total OI. As Trump's inauguration approaches, traders are also preparing for potential downside risks."
YM Lee
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