What to know:
- BTC calls are now the haute couture of the crypto world, outpricing their ETH counterparts just a day after Trump decided to play coy and skip any mention of crypto or a strategic BTC reserve in his inaugural speech. 🎩
- This pricing spectacle suggests a rather gloomy forecast for the ether-bitcoin ratio, as if it were a rainy day in a Kafka novel. ☔
Deribit-listed options are painting a rather bullish picture for bitcoin, as if it were the star of a soap opera, following President Donald Trump’s cryptic silence on all things crypto during his inaugural address on Monday. 📺
As the clock struck noon in Hong Kong, BTC call options—those delightful little tickets to bullishness in the leading cryptocurrency—were trading at a premium compared to ETH calls, according to the ever-watchful Amberdata. Risk reversals, which measure the difference between implied volatility for calls and puts, are like the mood ring of the market, with positive values indicating a bullish sentiment. 💎
BTC’s risk reversals are showing off, with short-term and near-term calls trading at a four to five volatility points premium over puts. Meanwhile, ETH calls are like the wallflower at the dance, trading at a relatively lesser volatility premium. 💃
In simpler terms, the ether-bitcoin ratio is expected to continue its downward spiral, having recently plummeted to a three-year low of 0.03, as if it were auditioning for a tragic role. 🎭
The BTC bias is particularly striking, especially since Trump chose to ignore the strategic bitcoin reserve in his speech, despite the whispers of speculation that he might just surprise us all. 🤔
Meanwhile, a report revealing GOP congressional priorities didn’t even bother to mention bitcoin or crypto, as if they were the forgotten children at a family reunion. 🏠
Traders on the decentralized betting platform Polymarket are now estimating a 38% chance of Trump announcing a strategic BTC reserve in his first 100 days of presidency, a drop from nearly 50% just a day ago. Talk about a plot twist! 📉
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2025-01-21 07:23