Crypto options indicate a downtrend for the ether-bitcoin ratio following President Donald Trump's omission of bitcoin in his inaugural speech. Prices for BTC call options are higher than those for ETH calls, suggesting a stronger bullish sentiment for bitcoin. Risk reversal data reveals that BTC calls are trading at a premium of four to five volatility points over puts, while ETH calls show a lesser premium. This environment points to expectations that the ether-bitcoin ratio will continue its downward trajectory, having hit a three-year low of 0.03 recently. The lack of a strategic bitcoin reserve mention by Trump, despite earlier speculation, has further contributed to this bearish outlook. Current traders estimate only a 38% chance of Trump announcing a strategic BTC reserve within his first 100 days, a notable decrease from previous expectations. Omkar Godbole, a Co-Managing Editor on CoinDesk's Markets team, reports on these trends amidst ongoing market fluctuations.

Source 🔗