The Bitcoin (BTC) and the broader crypto market have seen a well-known bullish turnaround over the past 24 hours, fueling by President Donald Trump’s announcement of five tokens that he hopes to include in the long-promised crypto strategic reserve.
That revived the investor’s interest in call options listed in the derivit or bullish bet at the level of $ 100,000, according to the data resource data.
The BTC, the leading cryptocurrency by market value, gained about 10% to 24 hours, reaching a high of more than $ 95,000 at one point, CoinDesk data show. Other tokens named by Trump – Eth, XRP, Sol and Ada – have scored more significant acquisitions.
On Sunday, Trump announced in the fact that he had appointed the Presidential Working Group to advance to a crypto strategic reserve with the XRP, Sol and Ada, along with Bitcoin and Ether in the middle of the reserve. The market has accepted this news with enthusiasm, especially given industry players because of the lack of rapid action in the promised reserve since Trump’s office on January 20.
Today, this entire stage is seen as evidence of “Trump putting” in crypto, suggesting that the Trump administration will intervene to support the market in chaotic times, as the Fed is known to do for stock markets.
“Today Trump signed a Trump in crypto. It was good enough for a change in trend, especially given how the BTC exploded through resitance with sentiment many hours all the time,” businessman and analyst Alex Kruger told X.
Kruger said the BTC re -established $ 89,000 and $ 92,000 as the main support level and traders could “long support with confidence with clear levels of improper below.”
Josh Gilbert, analyst of the Ethoro market, shared a similar view of a CoinDesk email, saying, “Because of the President’s interests, it felt like it was something that investors would need to get used to; sell-off of this nature could continue to be supported to advance.”
Against this backdrop, there was an updated activity on the $ 100K strike, which signified that entrepreneurs would bet on further prices despite the ongoing volatility. A call option gives the consumer the right to buy the underlying possession at a predetermined price at or before a certain date, thus offering the consumer an asymmetric reversal exposure.
The data monitored by the Aberdata shows open interest or the number of active positions in the $ 100k call increased by 1,163 contracts (costing over $ 100 million), most of all the options listed in the derivit.
“The $ 100k is the level everyone looks at in the intra-Week,” Greg Magadini, director of derivatives in Amberdata, said in an email. “The upcoming (Sunday) (will have the interest -friendly” Buy the rumor / sell the news “dynamics around the March 7 Crypto Summit.
The modified bias for calls, in general, is also evident from recovery to short -term skews, which measures the indicated volatility of premium (demand) for relevant calls.
Seven-, 30- and 60-day skews have been bouncing to zero and higher, up to deep negative reading since Friday when entrepreneurs chased protection options.
“People who want to buy calls and sellers put up when the market is bouncing,” the Business head of Asian developed Lin Chen, in CoinDesk.
Challenges still exist
Some observers are concerned that development in the crypto reserves may be slower-than-expect.
“Nothing new here. Only words. LMK when they get Congress approval of borrowing money and or re-evaluating gold prices. Without that, they have no money to buy Bitcoin and Shitcoins,” Arthur Hayes, Chief Investment Officer and Maelstrom Fund co-founder, said X.Responds to Trump’s announcement.
Many others, including Bybit CEO Ben Zhoushare a similar view.
“The emotion we see in the announcement of the US Federal Crypto Reserve is largely, with the expectations of institutional flow and global competition for crypto reserves. Doubts remain, however, with specific concerns for implementing, congressional approval, and potential long-term risks such as the intervention of the government,” Sales at the digital asset trading firm Zerocap, said in an email to CoinDesk.
“While institutions can rush, unclear regulations and macroeconomic conditions can determine if this rally is sticking,” Hiriart said, adding focus now to the White House Crypto Summit on March 7, which could provide more details about the Crypto reserves.
