Bitcoin Options Traders Set Sights On $80,000 By November-End, Regardless Of US Election Outcome

Options traders anticipate a Bitcoin price surge before the US election, regardless of the winner. Traders are favoring call options, betting on a new all-time high of $80,000 by November's end. Implied volatility remains elevated, especially for options expiring around election day. Trump's pro-crypto stance has led to Bitcoin being labeled a "Trump trade," while Harris supports a regulatory framework. Non-political factors like potential rate cuts and inflation concerns contribute to bullish sentiment. Data from Deribit shows a declining put-to-call ratio, indicating increased optimism. Traders are heavily buying call contracts around $80,000 for November 29 expiration. Open interest is also concentrated around $100,000 and $80,000 for December 27 expiration. Call options command higher premiums than put options, reflecting investor confidence in potential upside. However, opinions on non-Bitcoin cryptocurrencies remain divided.