The bullish reaction in bitcoin options pricing reflects a growing demand for BTC upside exposure amid rising odds of a potential Trump victory, indicating a shift in market sentiment.
Historically, bitcoin has demonstrated a negative correlation with the dollar index; however, this may change around the election period, suggesting a potential decoupling of BTC from traditional market influences.
Risk reversals for both CME and Deribit reveal a positive bias for bitcoin calls, indicating that traders are more inclined to bet on BTC price increases ahead of the U.S. election.
Despite a strong dollar, bitcoin has outperformed, indicating that it is beginning to ignore the influences of the dollar index, signaling a possible change in investor behavior.
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