According to ChainCatcher, Matrixport released a chart saying that as implied volatility continues to be low, Bitcoin traders need to establish corresponding positions to prepare for the bull market that may be brought about by Trump's victory. Bitcoin options will expire on November 8, 2024, but the market has not seen extreme positions, indicating that traders remain cautious about the results of the election. However, the strike prices of $65,000 and $70,000 indicate that many traders are looking forward to a market rebound.

The Bitcoin options market, with a trading volume of between $42 billion and $71 billion this year, is gradually replacing crypto stocks, which have performed poorly since the Bitcoin halving in April 2024, as a more popular leverage tool for traders. In addition, although MicroStrategy's current share price is higher than the value of its Bitcoin holdings, holding MicroStrategy has become an alternative option to gain direct exposure to Bitcoin.

The macroeconomic situation improved at the beginning of this year and the price of Bitcoin rebounded at one point, but as the market structure and liquidity drivers both weakened, it retreated again.

Trump's victory could be bullish for Bitcoin, but gains will be thwarted if the Federal Reserve takes a tighter monetary stance in response to the excessive stimulus from Trump's policies. During the pre-election period, traders looking to make short-term profits could consider using a call option arbitrage strategy to manage risk and capture upside gains.