2 hours ago
On Tuesday, bitcoin (BTC) options trading connected the Chicago Mercantile Exchange (CME) showed the strongest bullish sentiment since Donald Trump's Nov. 5 predetermination victory.
Traders scrambled to bargain calls, oregon options offering asymmetric upside exposure, driving the skew higher to 4.4%, the astir since aboriginal November, according to information tracked by integer assets scale supplier CF Benchmarks.
Skew is the quality successful implied volatility betwixt calls and puts, oregon options offering downside protection, and affirmative values correspond a bullish sentiment.
"Thirty-day topside skew successful the bitcoin options marketplace has reached levels not seen since the November predetermination results," Thomas Erdösi, caput of merchandise astatine CF Benchmarks, told CoinDesk. "This reflects a beardown bullish sentiment, with traders actively positioning for upside vulnerability crossed some short- and semipermanent maturities."
Bitcoin's terms roseate arsenic overmuch arsenic 5%, concisely topping $106,000 Tuesday aft buyers defended the $100,000 enactment level contempt President Trump failing to notation crypto oregon strategical bitcoin reserve successful his inaugural code the time before.
The bounce was accompanied by renewed uptake for the U.S.-listed spot ETFs, which registered a cumulative nett inflow of $802 million, according to information from SoSoValue. BlackRock's IBIT drew $661.8 cardinal alone, helping solidify the bullish sentiment.
"ETF inflows person continued their awesome accumulation streak, marking 4 consecutive days of important inflows, amounting to implicit $3 cardinal for Bitcoin alone. Bitcoin ($802M) and Ethereum ($74M) are receiving robust organization backing, which could propel integer assets to caller highs," Valentin Fournier, an expert astatine BRN, said successful an email to CoinDesk.
Besides, semipermanent holders — wallets with a past of holding coins for implicit 155 days — are scaling backmost their profit-taking activities, according to blockchain information tracking steadfast Glassnode.
"Looking ahead, it's imaginable that volatility levels mightiness mean somewhat towards the extremity of the month, but we expect that the skew for topside volition astir apt remain, barring immoderate astonishment argumentation developments. This volition apt supply continued upward terms unit for the foreseeable future," Erdösi said.
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