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According to Deribit CEO Luuk Strijers and other market experts, Bitcoin is expected to experience high volatility and potential price increases in the immediate aftermath of the US presidential election. It is stated that Bitcoin call options, especially for the November 8 option expiration, are twice as many as put options. Most of the open positions in this period are concentrated at target prices of $70,000, $75,000 and $80,000, and the market is generally in a positive trend.
Strijers stated that the market expects a fluctuation of approximately 3.78% in Bitcoin prices during the election week. Rising option demand and increased implied volatility indicators indicate that derivatives investors are expecting a rise in the short term for the post-election period. In parallel, Arbelos Markets CEO Joshua Lim also stated that they observed an increase in call option demand at $70,000 – $80,000 levels for post-election maturities.
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Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, also predicts that Bitcoin could approach $73,000 on election day. Kendrick stated that he made this prediction based on Bitcoin’s high volume and popular option target levels.
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