PANews October 22 news, Singapore crypto investment firm QCP Capital stated that short-term implied volatility peaked on election day, expanding by 10 volatility points compared to the previous expiration date, and the skew is leaning towards call options rather than put options, despite Bitcoin being about 8% lower than its historical high. Meanwhile, the stock market presents a different picture. The S&P 500 index has reached an all-time high, with 20% of companies set to announce earnings. The options market is leaning towards put protection, with expectations that on the day after the election, November 6, this index may fluctuate by 1.8%. The correlation between the stock market and cryptocurrencies has reached a historical high of 0.83. Given its mean-reversion trend and the differences in options market positioning, this may signify the arrival of a turning point. The election creates a zero-sum game scenario for the stock market, with industry winners depending on the election results. In contrast, both U.S. presidential candidates are more supportive of cryptocurrencies than the previous administration, so any weakness in the stock market may prompt a capital reallocation to the cryptocurrency sector.