Interesting trends in the crypto market illustrate that implied volatility for BTC and ETH is spiking around the election, suggesting increased market uncertainty. Despite this volatility, there’s an observable optimism within the market indicated by the BTC Put/Call Skew. This optimism is particularly notable because even longer dated options continue to show a strong call premium, hinting that traders expect positive outcomes for Bitcoin in the medium to long term, irrespective of the election results.
The crypto community's sentiment shifted significantly when Trump attempted to gain favor by adopting a pro-crypto stance, promising to establish the U.S. as a 'bitcoin superpower.' Despite having been critical of cryptocurrencies in the past, Trump's recent remarks have sparked renewed interest in Bitcoin's potential role in his policy framework. This situation paints an unpredictable narrative for investors as they respond to shifts in political rhetoric around crypto.
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