Bitcoin’s Inverse Ties With Dollar Index Challenged as U.S. Election Looms
Traders seek upside exposure in BTC even as FX option indicate a bias a bullish bias for the dollar index.
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Traders seek upside exposure in BTC even as FX option indicate a bias a bullish bias for the dollar index.
BTC’s implied volatility curve shows a noticeable kink on Oct. 5, signaling expectations for an unusually volatile Saturday.
The company strengthens its bitcoin position with a strategic options sale, generating nearly 24 BTC ($1.4M) in premium.
Just as optimism was about to surge, clouds rolled in, pushing prices lower.
Notional open interest in BTC options tied to U.S. elections. (Amberdata)
Call buyers are implicitly bullish on the market.
One market observer noted “very concentrated call buying” looking to profit from a rally to between $74,000 and $80,000 by the end of this month.
The uptick signals a bullish outlook, according to Wintermute.
A trader bought $2 million worth of dogecoin {{DOGE}} call options at a strike price of $0.22 on Wednesday, according to PowerTrade’s head of institutional sales, Bernd Sischka.
Along with other investing legends such as the Oracle of Omaha Warren Buffett, and ‘The Big Short’s’ Michael Burry, the … Continue reading
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