Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
BTC options implied volatility is surging ahead of Trump's upcoming appearance at Bitcoin 2024: analysts

BTC options implied volatility is surging ahead of Trump's upcoming appearance at Bitcoin 2024: analysts

The BlockThe Block2024/07/23 11:25
By:Brian McGleenon

Prices for out-of-the-money bitcoin options are increasing ahead of former U.S. president Donald Trump’s appearance at Bitcoin 2024.A positive statement from Trump about bitcoin at the conference in Nashville could trigger a price surge for the digital asset, an analyst claimed.

Donald Trump’s upcoming appearance at the Nashville Bitcoin conference this weekend is one factor driving current bitcoin market volatility, analysts said.

"Prices for out-of-the-money options have increased significantly, indicating expectations for more extreme market movements," QCP Capital analysts said. The increased demand and higher prices for these options reflect a broader sentiment of anticipation among market participants.

Bitcoin options open interest on Deribit reflects this sentiment, with BTC -1.075% options implied volatility rising from 53% to 67% over the past week, according to data from the derivatives exchange.

Trump's upcoming speech at Nashville Bitcoin conference

BRN analyst Valentin Fournier observed a similar trend, stating that a volatile week is expected due to several key events. These include Donald Trump's speech at Bitcoin 2024, spot bitcoin exchange-traded fund inflows , and the U.S. GDP and Personal Consumption Expenditures Price Index reports on Thursday.

"Former president Trump’s speech at Bitcoin 2024 is highly anticipated, with speculation that he might announce the creation of a U.S. bitcoin strategic reserve, such an announcement could act as a major catalyst, potentially pushing bitcoin past its previous all-time highs. Positive declarations by Trump about bitcoin could trigger a price surge," Fournier told The Block. He added that anticipation of imminent rate cuts could also fuel bullish sentiment for bitcoin.

Bitcoin's price traded flat over the past 24 hours and is now trading at $66,888 as of the time of writing, according to  The Block's Price Page .


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like