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
As the U.S. election and Federal Reserve meeting approach, Bitcoin options traders are focusing on call options above $80,000

As the U.S. election and Federal Reserve meeting approach, Bitcoin options traders are focusing on call options above $80,000

Bitget2024/10/21 14:08

According to The Block, an analyst said that Bitcoin options traders are increasingly focusing on call options with strike prices over $80,000 expiring in November. Two significant events are expected to occur next month: the U.S. presidential election on November 5th local time and the Federal Open Market Committee (FOMC) interest rate decision on November 8th.

André Dragosch, European Research Director at Bitwise, stated: "Currently, the most unliquidated Bitcoin option contracts are those expiring on November 8th - coinciding with both the FOMC meeting and a few days after the U.S. election - clearly leaning towards call options. This supports the assumption that Bitcoin option traders are generally preparing for bullish outcomes." The market widely expects that the Fed will announce a reduction of federal funds rate by 25 basis points at its meeting on November 8th; currently there is a probability of 90.2% for this rate cut.

According to data from Deribit, there is quite a number of call option contracts expiring on November 29th. More than 3,100 such contracts have been opened up till end-November on Deribit with execution prices between $80,000 and $82,000; their nominal value exceeds $2.12 billion USD. In contrast, put options are fewer (1,200 contracts), with a nominal value of $82 million USD which further consolidates market's bullish stance in November. Despite positive trends in Bitcoin price towards end-November some traders continue hedging positions as recent open put contract numbers have increased.

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: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!