What to know:
- The so-called ‘Trump put’ revives interest in the $100K strike BTC calls.
- Skews have recovered from deeply negative readings, indicating a renewed bias for calls.
- The U.S. crypto reserve could still face challenges.
Bitcoin (BTC) and the broader crypto market have experienced a noted bullish turn in the last 24 hours, driven by President Trump’s announcement regarding the five tokens expected to be included in the promised strategic crypto reserve. This has rekindled investor attention toward Deribit-listed call options, especially at the $100,000 call level.
BTC, the leading cryptocurrency by market cap, has surged nearly 10% in just 24 hours, reaching over $95,000 according to CoinDesk data. Other cryptocurrencies mentioned by Trump, including ETH, XRP, SOL, and ADA, also saw substantial gains.
On Sunday, Trump mentioned on Truth Social that he has instructed the Presidential Working Group to advance a crypto strategic reserve encompassing XRP, SOL, and ADA, centered around Bitcoin and Ether. The market responded positively to this development, eager for progress on the strategic reserve that has been anticipated since Trump’s inauguration.
This trend has been interpreted as indicative of a “Trump put” on crypto, which suggests that the Trump administration may take action to support the cryptocurrency market during instability, similar to the Federal Reserve’s interventions in stock markets.
Quotes:
“Today Trump signaled there is a Trump put on crypto. This is good enough for a trend change, particularly given how BTC blasted through resistance with sentiment among many at all time lows,” said trader and analyst Alex Kruger on X.
Continued discussions reveal traders are actively betting on further price increases despite market volatility, with significant interest in the $100K strike call options.
Daniel Hiriart stated concerns about slow progress on the crypto reserve’s implementation amidst regulations and fiscal capabilities, particularly highlighting that execution details will be crucial as upcoming events unfold.
This re-engagement in bullish options illustrates growing optimism among traders as they anticipate institutional investment and market developments.
