As a seasoned crypto investor with a keen eye for market trends and a deep understanding of geopolitical events that influence digital asset prices, I find the recent developments surrounding the US elections and their potential impact on the cryptocurrency markets to be an intriguing development.
As a crypto investor, I’ve noticed an uptick in market activity following last weekend’s assassination attempt on former President Trump. The US 2024 Elections have been a significant factor in recent price movements. In response to this market sentiment, I’m excited to share that Deribit, a leading derivatives crypto exchange, is introducing Bitcoin and Ether options. This means investors like myself can now tailor our bets for the outcome of the upcoming US presidential election.
According to Bloomberg’s report, these contracts are set to expire on November 8, just three days after Americans cast their ballots for the presidency. The options trading for these contracts will commence on July 18. By initiating trading this early, clients can devise their strategies in advance of the US elections slated for November 5.
Sharing this on Twitter, crypto exchange Deribit noted:
“Introducing ourselves early aims to help our clients prepare strategically for the US elections on November 5th. They can make informed guesses, minimize risk through hedging, and more.”
As an analyst, I’ve examined the data from CoinGecko and found that Deribit has reported a staggering $2 billion in open interest for its perpetual and futures markets within the last 24 hours. Going back to April 2020, this exchange has played a significant role in the Bitcoin options trading market, accounting for approximately 70% of the total $51.1 billion volume. Consequently, the recent introduction of election-related options is just another addition to their extensive catalog of products tailored to cater to clients’ evolving needs.
Crypto Markets Gearing Up for Trump Reappointment
President Donald Trump has declared his strong backing for the cryptocurrency sector and pledged to implement crypto-friendly regulations should he secure another term in office. Moreover, Trump has signaled his readiness to foster the growth of Bitcoin mining operations within the United States by offering his endorsement to this industry.
As an analyst, I’ve noticed an intriguing development in the Bitcoin market. In the coming days, we anticipate a significant rally, fueled by the upcoming arrival of former President Trump and the establishment of a solid foundation for a robust bull run. Over the past week, there has been an unprecedented surge in spot Bitcoin ETF inflows, accompanied by substantial institutional investment in the market.
On Tuesday, June 16th, there was a significant increase in investments into the Bitcoin ETF, totaling approximately $422 million – the highest intake in the past six weeks. Notably, Blackrock’s IBIT fund received an inflow of around $4.26 billion, increasing its Assets Under Management (AUM) to surpass $18.5 billion since its inception.
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2024-07-17 11:57