Bitcoin

Trump Loses Token

Trump Wins Token

The post <a href="https://cryptosnewss.com/donald-trump-re-election-fuels-bitcoin-options-trading-surge-to-yearly-high/" rel="noopener noreferrer nofollow">Donald Trump Re-Election Fuels Bitcoin Options Trading Surge to Yearly High</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.Bitcoin-based options trading has surged as institutional investors are betting the asset could continue surging higher amid a broader crypto market rally triggered by the re-election of pro-crypto President Donald Trump.Amid record-setting prices in crypto, Bitcoin’s open interest for options contracts soared on Monday to just below $25 billion, <a href="https://www.deribit.com/statistics/BTC/metrics/options" rel="noopener noreferrer nofollow">data</a> from derivatives exchange Deribit shows.It follows a previous yearly open interest peak for the exchange at roughly $24 billion, seen November 7, immediately following Trump&#39;s victory last week.Options are a type of financial derivatives contract that allows a buyer to buy or sell an asset at a predetermined price within a particular time frame. Options open interest refers to the number of outstanding non-closed or liquidated options contracts that have been traded.Read Also: <a href="https://cryptosnewss.com/bitcoinos-brings-smart-contracts-and-dapps-to-the-network/" rel="noopener noreferrer nofollow">BitcoinOS Brings Smart Contracts and dApps to the Network</a>The ballooning of Bitcoin options open interest suggests institutional investors are increasingly bullish on Bitcoin, which would be a boon for the asset, experts told Decrypt.Institutional players’ “direct and active” participation in the derivatives market could also spur market liquidity, which, in turn, could help push up its price.“The appetite investors have for Bitcoin [is] so large,” Autonomys Network CEO Todd Ruoff said Monday. “There’s much more appetite by institutions, in particular. Not every mom-and-pop trades on futures exchanges.”Growing institutional interest in Bitcoin comes on the heels of the re-election last week of Republican Donald Trump, which triggered a broader crypto market rally. That political momentum has bolstered Bitcoin’s value and is likely to continue to push up its price before Trump takes office next year, according to Ruoff.Bitcoin soared to an all-time high of roughly $89,500 on Monday, CoinGecko <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">data</a> shows. Since then, the token’s price has fallen just below $88,600.Still, the world’s largest crypto may be poised to break even higher as news of Trump’s cabinet picks unfolds, Joe Flanagan, executive chairman and co-founder at on-chain marketplace Maple, told Decrypt.The momentum could even push Bitcoin to $100,000 before the year’s end, he said.“Major appointments to the Treasury, obviously, and [the] replacement [of Gary Gensler] at the SEC will be major moments that will help to feed the overall narrative of how positive this is for the crypto industry,” Flanagan said.However, it’s unclear whether Trump’s administration will be able to act in a way that sustains the rally in the new year, particularly as headwinds emerge during the first 90 days following his inauguration.“[Trump&#39;s] done a good job in getting the crypto community on board,” Flanagan said. “But in the context of everything that is a priority for a new president coming in, where crypto will actually sit in that list of priorities is the thing that will be realized in his first month in office.”The post <a href="https://cryptosnewss.com/donald-trump-re-election-fuels-bitcoin-options-trading-surge-to-yearly-high/" rel="noopener noreferrer nofollow">Donald Trump Re-Election Fuels Bitcoin Options Trading Surge to Yearly High</a> appeared first on <a href="https://cryptosnewss.com" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Donald Trump Re-Election Fuels Bitcoin Options Trading Surge to Yearly High

Cryptos Newss

Other articles published on Nov 12, 2024

Could Trump Presidency Create 500X Returns for DOGE?

Kraken Tightens Up: Layoffs, New Co-CEO, and a Strategy Shift Amid a Crypto Industry Reset

Robinhood, Kraken, and Other Crypto Firms Launch Global Stablecoin Network

WEEX and Bybit Elevate Crypto Content Ecosystem With Unmatched Support for KOLs

Fed Chair Jerome Powell will sue president Trump if he tries to fire him

Bitcoin Price Hits $90K And... BTC Price Rally Coming To An End?

Join our free newsletter for daily crypto updates!