Odaily Planet Daily News: Cryptocurrency derivatives trader Gordon Grant emphasized the importance of Bitcoin's recent breakout and mentioned derivatives indicators. Grant stated, "For the third consecutive year, we are seeing unusually high 'alpha' flows in short-term Bitcoin call options for the week of January 10." He pointed out that over 1,000 call options for January 7 were traded at a strike price of $103,000 over the weekend. Grant compared this to the situation at the beginning of 2023 when similar short-term call option activity preceded Bitcoin's explosive rise, thanks to volatility rapidly repricing from 20% to over 60%. He also noted that in January 2024, a surge of call option activity prior to the launch of BlackRock's IBIT on January 10 stimulated Bitcoin's rise from $40,000 to $48,000. He further stated that the options term structure exhibits a premium for dates after Trump's inauguration, which may reflect traders pricing in potential market volatility events or gamma-driven positioning. The key question now is whether this marks the beginning of a sustained Bitcoin rise in 2025, or if it is merely a short-term excitement triggered by speculative bets on another Trump-related event, similar to last July's Bitcoin Nashville event. "The term structure of volatility and skew seems to suggest that the long-term returns investors are seeking this year are not just about the rise in the first week," Grant said. (The Block)

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