Crypto Options Signal More Losses for Ether-Bitcoin Ratio After Trump Skips BTC Mention in Inaugural Speech
Deribit-listed options show a continued bullish outlook for bitcoin relative to ether, following President Donald Trump’s removal of any crypto mention in his inaugural speech on Monday.
As of noon Hong Kong Time, BTC call options, which offer bullish exposure to the leading cryptocurrency, were trading more expensive than ETH calls in the time frames, according to risk reversals tracked by Amberdata. Risk reversal measures the difference between implied volatility for calls relative to puts, with positive values indicating bullish sentiment.
BTC risk reversals show short-term and close calls trading at a four to five volatility point premium to puts. Meanwhile, ETH calls the trade at a relatively lower volatility premium over puts.
In other words, the ether-bitcoin ratio is seen to extend the downtrend. The ratio hit a three-year low of 0.03 earlier this week.
The bias favoring BTC is particularly notable because Trump did not mention the strategic bitcoin reserve on Monday, despite earlier rumors suggesting he would.
At the same time, a report that shows GOP congressional priorities no mentions of bitcoin or crypto.
Traders on the decentralized betting platform Polymarket now look a 38% chance that Trump will announce a strategic BTC reserve in his first 100 days of presidency. That’s down from nearly 50% the day before.
