FalconX Research Director: Bitcoin market options activity around the US election shows a clear bullish bias

Odaily News David Lawant, head of research at cryptocurrency market maker FalconX, said, "I think the market consensus is that Bitcoin is likely to perform well regardless of the outcome of the election, and our analysis shows that the market's options activity around the upcoming election shows a clear bullish bias." Republican candidate and former President Trump openly supports cryptocurrencies, so much so that Bitcoin is seen as a so-called "Trump trade." His Democratic opponent, current Vice President Harris, has pledged to support a regulatory framework for the industry, which contrasts with the Biden administration's crackdown on the industry. Non-political factors such as further interest rate cuts by the Federal Reserve are seen as fueling optimism. (Bloomberg)