Bitcoin Investors Turn Their Eyes to the US: What Are the Year-End Price Expectations?

Cryptocurrency investors preparing for the elections have invested millions of dollars in Bitcoin options.

The options, which will expire four days after the election, on November 8, began trading on the Deribit exchange a month ago.

According to Amberdata data, the open interest in these options has increased to $345.83 million. Open interest shows the value of contracts that have not yet expired or have not been closed.

Investors expect an increase

67 percent of the open interest consists of call options that offer unlimited upside potential in exchange for a limited loss. The rest comes from put options that protect against price declines.

This situation shows that the put-call ratio is below 0.50 and the market is overwhelmed by bullish expectations for the election results.

Algorithmic trading firm Wintermute said, “These election-focused contracts offer investors the opportunity to speculate on how the elections could affect crypto markets. The current 0.50 put-call ratio shows that twice as many call options are traded as put options, and therefore the market is bullish,” he said.

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