bullish

Movement

Bitcoin

Million

Crypto investors are pouring hundreds of millions of dollars into Bitcoin (BTC) options tied to the upcoming US election, with open interest of around $350 million reflecting strong bullish sentiment.
<h2 id="bitcoin-options-tied-to-us-elections-see-350-million-in-short-selling-reflecting-bullish-trend">Bitcoin Options Tied to US Elections See $350 Million in Short Selling, Reflecting Bullish Trend</h2>
These election expiration options began trading on Deribit just over a month ago, four days after the Nov. 4 election. Notional open interest, or the total dollar value of active contracts, currently stands at $345.83 million, according to Amberdata.
Most of the interest is concentrated in call options, representing 67% of the total, while the remaining 33% is comprised of put options.
The resulting bid-ask ratio of below 0.50 indicates that call options are twice as likely as put options, indicating optimism that the election results will boost Bitcoin prices.
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“These election-specific contracts allow investors to capitalize on the increased interest by speculating on how the election could impact crypto markets in a targeted manner,” said Wintermute, an algorithmic trading firm.
Among the call options, the $80,000 strike price is the most popular with over $39 million in open interest. Generally, investors are investing in higher strike prices ranging from $70,000 to $140,000, suggesting a belief that Bitcoin could reach new record highs as the election approaches.
On the downside, $39 million is locked in the $45,000 put option, suggesting some participants are hedging against potential downsides.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-options-are-seeing-a-flurry-of-movement-in-connection-with-the-us-elections-here-are-the-details/" rel="noopener noreferrer nofollow">Bitcoin Options Are Seeing a Flurry of Movement in Connection with the US Elections! Here Are the Details</a>

Bitcoin Options Are Seeing a Flurry of Movement in Connection with the US Elections! Here Are the Details

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