"After a rather rough week in the markets to start November, the Trump Administration made an announcement Sunday morning that has sent bitcoin and company into the green once again. The Administration plans to make a $2,000 payment to American citizens (excluding the wealthy) funded by the U.S. tariff revenues. What form this comes in remains to be seen, as Treasury Secretary Bessent has commented that the payment form has not been determined yet, and could be seen in taxes possibly."
"Even with ETH being one of the true blue chips in crypto, its volatility level is still considerably above that of BTC ( 73 vs 45 on the Deribit dvol measurement), so we see more extreme moves on the charts. We will see which DAT's were able to capitalize on cheap ETH this past week, and if any other catalysts come out about the 10 year old project."
After a rough start to November, the Trump Administration announced a $2,000 payment to American citizens (excluding the wealthy) funded by U.S. tariff revenues. Treasury Secretary Bessent stated the payment form has not been determined and could appear as tax changes. The announcement sparked a market rally that pushed BTC above $105,000, lifted funding rates above 10% annualized on perpetual contracts, and left front-month futures barely in contango. Ethereum rallied over 5% to above $3,500 while exhibiting higher volatility (Deribit dvol 73 vs BTC 45). Traders increased position protection, notably 28NOV2025 put activity and 25-delta $3,250 puts.
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