Bitcoin (BTC-USD) trading is tilting decidedly bullish. If there’s one hint that could display how bullish crypto traders are, it’s the recent activities on major DEX options platforms like Deribit. As it stands, the call-to-put ratio—a reliable gauge of market sentiment—is showing a massive preference for calls. Specifically, Deribit has recorded over 150,000 active call option contracts valued at a staggering $9.5 billion. This figure significantly overshadows the interest in put options (66,450).
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Political Winds: A Potential Boost from Trump’s Return
The political arena might also be pivotal in Bitcoin’s future moves. A report from Standard Chartered suggests that a potential second term for Donald Trump could trigger more gains for Bitcoin. The analysis points to a likely positive regulatory environment under Trump’s administration, which could enhance Bitcoin’s appeal as a hedge against potential fiscal turbulence. Moreover, Trump’s recent openness to cryptocurrency and his administration’s favorable stance on Bitcoin spot ETFs could inject additional momentum.
Institutional Movements: Susquehanna’s Hefty Bitcoin Bet
And just to add one more piece of bullish news: a 13F SEC filing showed Susquehanna (OTC: SQCF) purchase $1.3 billion in spot BTC ETFs. According to the filing, they went on a shopping spree and hit all of the major spot BTC ETF providers.
- Grayscale BTC (NASDAQ:GBTC): $1,091,029,663 (17,271,326 shares)
- Fidelity Bitcoin ETF (BATS:FBTC): $83,744,633 (1,349,414 shares)
- BlackRock Bitcoin ETF (NASDAQ:IBIT): $23,595,993 (583,049 shares)
- ARK21 Bitcoin ETF (NASDAQ:ARKB): $536,116,328 (508,824 shares)
- Bitwise Bitcoin ETF (NYSE:BITB): $21,709,807 (560,832 shares)
- Valkyrie Bitcoin ETF (NASDAQ:BRRR): $3,872,831 (192,391 shares)
- Invesco Galaxy ETF (BATS:BTCO): $11,801,862 (166,200 shares)
- VanEck Bitcoin ETF Trust (BATS:HODL): $20,595,480 (256,354 shares)
- WisdomTree Bitcoin ETF (BATS:BTCW): $19,290,934 (255,814 shares)
Susquehanna International Group, if you’ve never heard of them, isn’t a small player. They have nearly $440 billion AUM (assets under management). And while $1.3 billion might not seem like a lot compared to their $440 billion, it makes Susquehanna one of the biggest institutional holders of spot BTC ETFs.
Is Bitcoin a Buy?
According to TipRanks’ Summary of Technical Indicators, Bitcoin is a Buy.
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