Deribit CEO Luuk Strijers said derivatives traders are bracing for a bullish move in Bitcoin in the days following the US election on November 5. He added that data showed that twice as many call options on Bitcoin expired on November 8 as put options, the first option to expire after the US Presidential Election. Strijers said: "For options expiring on November 8, the unpositioned squaring contract is worth more than $2 billion, with major strike prices of $70,000, $75,000, and $80,000.
Bond traders are upping their bets that the Federal Reserve will cut rates by 50 basis points in September, rather than betting on the standard 25 basis points rate cut in September. This is fully reflected in the federal funds futures market. Weaker-than-expected inflation data released on Thursday sparked a buying frenzy in October that continued on Friday. Contracts due on October 31 have fully digested policymakers' expectations of a 25 basis point rate cut at the September 18 meeting. Any.....