Bitcoin (BTC) and the wider cryptography market have experienced a significant bullish turnaround in the last 24 hours, fueled by the announcement by President Donald Trump of the five tokens which he plans to include in the strategic reserve of crypto-promotional for a long time.
This has relaunched the interest of investors in the darkened -listed call options or bullish bets at $ 100,000, according to the source of Amberdata data.
BTC, the main cryptocurrency by market value, won almost 10% in 24 hours, reaching a summit of more than $ 95,000 at a given time, according to Coindesk data. Other tokens that Trump has named – ETH, XRP, Sol and ADA – have produced greater gains.
On Sunday, Trump announced on Truth Social that he had ordered the presidential working group to move forward in a cryptographic strategic reserve which includes XRP, Sol and Ada, with Bitcoin and Ether at the heart of the reserve. The market welcomed this news with enthusiasm, in particular given the disappointment between industry players due to the lack of rapid action on the promised reserve since Trump took office on January 20.
Now, this whole episode is considered to be proof of the “Trump put” on the crypto, suggesting that the Trump administration will intervene to support the market in turbulent times, as is the Fed is known for the stock markets.
“Today, Trump reported that there is a trump put on the crypto. It is good enough for a change of trend, in particular given the way in which BTC exploded by the resistance with a feeling among a lot of stockings at any time,” said the merchant and analyst Alex Kruger on X.
Kruger said that the BTC had restored $ 89,000 and $ 92,000 as the level of key support and that traders can “support long with confidence with clear invalidation levels below”.
Josh Gilbert, market analyst at Etoro, shared a similar point of view in an email in Coindesk, saying: “Given the interests acquired from the president, it seems that investors may need to get used to it; sales of this nature could continue to be supported in the future.”
In this context, there was a renewed activity in the typing call of $ 100,000, indicating that traders are betting on other price gains despite continuous volatility. A purchase option gives the buyer the right to buy the underlying assets at a predetermined price at the latest at a specific date, thus offering the buyer an exposure to the asymmetrical increase.
The data followed by Amberdata shows open interests or the number of positions active in the call of $ 100,000 increased by 1,163 contracts (worth more than $ 100 million), the most among all the options listed on deribit.
“$ 100,000 will be the level that everyone will examine intra-nine,” said Greg Magadini, director of Amberdata derivatives, in an email. “This next [week][ will have interesting “Buy the rumor / Sell the news” dynamics around the March 7th crypto summit.
The renewed bias for calls, in general, is also evident from the recovery in the short-term skews, which measure the implied volatility premium (demand) for calls relative to puts.
The biases of seven, 30 and 60 days have rebounded to zero and more, increasing significantly compared to deep negative readings since Friday, when traders have driven up protective protection options.
“People like to buy calls and sell when the market rebounds,” the deribit business development head, Lin Chen, told Coindesk.
The challenges always exist
Some observers fear that progress on the crypto reserve will be slower than expected.
“Nothing new here. Just words. LMK when they get the approval of the congress to borrow money and or reassess the price of gold.
Several others, including the CEO of Bybit, Ben Zhou, share a similar point of view.
“The feeling that we see following the federal announcement of the federal reserve of cryptography is largely high, with the expectations of institutional entries and global competition for cryptography reserves. Skepticism remains, however, with specific concerns concerning execution, approval of the congress and potential long -term risks such as government intervention,” said Mark Hiriart, The digital company of digital assets Zerocap, in a comment.
“Although institutions can rush, unclear regulations and macroeconomic conditions could determine if this glue rally,” noted Hiriart, adding that the accent will now be put on the top of the White House crypto on March 7, which could provide more details on the crypto reserve.
