Currently, the Bitcoin options market is showing a bullish trend, with contracts still open and prices concentrated between $7,000 and $8,000.
According to data from ETC Group, a subsidiary of Bitwise Asset Management, CoinDesk reported that token prices are facing uncertainty under the influence of uncertainty in the results of the U.S. presidential election. ETC Group found that based on the potential performance of theoretical value, BTC could rise by 10% regardless of the election results. The current spot price is just under $68,000, and a 10% increase would set a new record, surpassing $73,697 in March.
The team also found that the impact of the election could have the greatest impact on ADA and DOGE, at 18% and 20%, respectively. In addition, according to data from Coinglass from 2013 to 2023, in the second half of October (16th to 31st), BTC's return was twice as high as in the first half (1st to 15th).
From the outside of the US presidential election, the options market shows a bullish bias for Bitcoin, with most of the buy-side positions having strike contracts at the $70,000 and $80,000 levels. The notional value of these contracts, which expire on November 29, is $141 million and $120 million, respectively.
