BTC, XRP News: Large Traders Take Diverging Strategies on Crypto Market Volatility
Large traders are using divergent options strategies for BTC, betting on volatility, while some XRP traders are betting against it in a choppy market.Summary
In a volatile and uncertain crypto market, large traders are adopting contrasting options strategies. Bitcoin (BTC) investors are favoring non-directional volatility plays like strangles and straddles, which together accounted for over 20% of BTC option block trades on Deribit, indicating anticipation of significant price moves without a clear direction. Conversely, some XRP traders are employing short strangles, betting against increased volatility, suggesting they believe current macro jitters, such as U.S. government shutdown dynamics and rate cut expectations, are already fully priced in, expecting XRP to stay range-bound between $2.2 and $2.6. Ether (ETH) options showed a preference for a directional-to-neutral strategy called a put diagonal spread. Block trades, executed privately by institutional investors, highlight the market's focus on speculating on volatility rather than specific price direction.
(Source：CoinDesk)