Crypto Options Show Continued Bearishness on Ether-Bitcoin Ratio Following Trump’s Silence on BTC in His Speech.

BTC Options Remain Bullish Over ETH Despite Trump’s Inaugural Speech Overlooking Crypto Policies

Despite President Donald Trump’s inaugural speech failing to address the long-speculated strategic bitcoin reserve, options data shows a continued bullish sentiment for Bitcoin (BTC) relative to Ether (ETH).

Data from Deribit highlights that BTC call options are still priced higher than ETH calls, signaling that traders remain more optimistic about Bitcoin. As of noon Hong Kong Time, BTC call options continue to trade with a four to five-point volatility premium over puts, as shown by the risk reversals tracked by Amberdata. Meanwhile, ETH call options have a comparatively smaller volatility premium, suggesting a more subdued outlook for Ether.

This trend has reinforced the downward movement of the Ether-Bitcoin ratio, which recently dropped to a three-year low of 0.03. The lack of a direct reference to a strategic bitcoin reserve in Trump’s speech further solidified the market’s focus on BTC, despite earlier anticipation that the new administration might signal a more favorable crypto policy.

Additionally, a report showing that GOP congressional priorities didn’t include Bitcoin or other cryptocurrencies added to the uncertainty surrounding Trump’s crypto stance.

On Polymarket, a decentralized betting platform, traders have reduced the likelihood of a strategic Bitcoin reserve announcement, with only a 38% chance now seen within Trump’s first 100 days in office, down from a near 50% probability just a day ago. This change in expectations underscores the market’s cautious approach as it awaits clearer direction on cryptocurrency policy from the new administration.