The year 2024 marks a significant turning point in the development of cryptocurrency, as Bitcoin (BTC) reaches new heights, surpassing $107,000. This move is partly driven by positive expectations surrounding newly elected President Donald Trump's plan to build a national bitcoin reserve for the United States. However, while BTC prices soar, traders in the options market remain cautious. This is reflected in the negativity of the 25-delta risk reversal index on Deribit exchange, indicating high demand for put options to protect against potential price declines.
In contrast to previous trends where traders aggressively bought call options, recent trades have shown pessimism, with many positions prioritizing downside protection. Although analysts remain optimistic about BTC's future, predicting prices could reach between $150,000 and $200,000 by the end of next year, current market behavior highlights concerns that changes in interest rates from the Federal Reserve could impact risk assets.
In his commentary, Arthur Azizov, CEO of B2BinPay, shared predictions for the stablecoin market as the year 2025 approaches. He emphasized that 2024 continues to follow trends from previous years, with major players like Tether and Circle facing a slowdown in the adoption of stablecoins linked to other currencies instead of the US dollar. Although the cryptocurrency market has generally recovered, past collapses, such as TerraUSD, still make investors hesitant in seeking new options.
Looking ahead to 2025, Azizov predicts the rise of regulated stablecoins, increased participation from banks providing custody services due to upcoming regulations from the European Union, and a shift in market dynamics as concerns about Tether's compliance grow. Local currency-based stablecoins are also expected to emerge as countries digitize their economies. Overall, he anticipates that the stablecoin market will evolve into a more mature sector, marked by widespread acceptance, clearer regulations, and diversification beyond dollar-focused options.
