Bitcoin (BTC) Primed to Break through ATH Regardless of US Election Results, Say Crypto Options Traders

As the US presidential elections inch closer, a slight change in tone can be observed among crypto options traders regarding its implications on the

Bitcoin (BTC) options traders are now largely betting on the digital asset to hit $80,000 by the end of November, irrespective of whether Republican candidate Donald Trump or Democratic candidate Kamala Harris wins the US presidential election.

Bitcoin Options Traders Eye $80K BTC Regardless Of US Elections Results

As the US presidential elections inch closer, a slight change in tone can be observed among crypto options traders regarding its implications on the digital asset market.

After initially expecting the Trump administration’s pro-crypto stance to lead to favorable election results for Bitcoin, options activity now suggests that traders are betting big on the digital asset, regardless of who wins.

A recent analysis of options activity by FalconX, a crypto brokerage firm, showed that a majority of options traders are betting on a strong upside for Bitcoin by the end of November, with limited downside concerns.

David Lawant, head of research at FalconX, commented on the observations, stating that the market consensus appears to be a strong performance by Bitcoin, regardless of the election outcome.

Our analysis shows that options activity surrounding the upcoming elections exhibits a notable topside-heavy bias, suggesting that options traders are largely betting on a strong upside for Bitcoin by the end of November, with limited downside concerns.

Within crypto circles, the general belief is that a Trump win would likely benefit the digital asset ecosystem. At the same time, a Harris victory would likely continue the Biden administration’s perceived hostile stance toward cryptocurrencies.

However, Harris has attempted to shift this perception among crypto voters, as she recently promised to foster emerging technologies like AI and digital assets through a supportive regulatory framework.

Bitcoin options traders are now largely betting on the digital asset to hit $80,000 by the end of November, irrespective of whether Republican candidate Donald Trump or Democratic candidate Kamala Harris wins the US presidential election.

Moreover, interest rate cuts by the US Federal Reserve (Fed) and cooling inflation are among the other factors contributing to the increased optimism toward a new ATH for Bitcoin by the end of the year.

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