The $100K Bitcoin Options Surge as Trump’s Crypto Reserve Plans Boost Market Sentiment

Bitcoin (BTC) and the broader cryptocurrency market have experienced a strong bullish turnaround in the past 24 hours, following President Donald Trump’s announcement of five tokens set to be included in a long-anticipated strategic crypto reserve.

This surge in optimism has led to increased investor interest in Deribit-listed call options at the $100,000 strike price, according to data from Amberdata.

Market Rally Driven by Strategic Reserve Announcement

BTC, the world’s largest cryptocurrency by market value, surged nearly 10% within the last day, reaching a peak above $95,000, as per CoinDesk data. Other cryptocurrencies named by Trump—Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—also saw significant price gains.

On Sunday, Trump announced via Truth Social that he has instructed the Presidential Working Group to advance the creation of a crypto strategic reserve. The proposed reserve will primarily feature Bitcoin and Ethereum, alongside XRP, SOL, and ADA. The crypto community responded enthusiastically to the news, especially after earlier frustrations over the administration’s slow movement on this initiative since Trump took office on January 20.

The “Trump Put” Phenomenon

Analysts have dubbed this event the “Trump put” on crypto, likening it to the Federal Reserve’s tendency to intervene during stock market downturns. The assumption is that the Trump administration may act to support the crypto market during volatility, reinforcing investor confidence.

“Today, Trump signaled there is a ‘Trump put’ on crypto. This is enough to shift the trend, particularly since BTC broke through resistance at a time when sentiment was at extreme lows,” trader and analyst Alex Kruger wrote on X.

Kruger further noted that Bitcoin has re-established key support levels at $89,000 and $92,000, suggesting traders can enter long positions with clear invalidation points below these levels.

Josh Gilbert, a market analyst at eToro, echoed this sentiment in an email to CoinDesk, stating, “With the President’s vested interest in crypto, investors may have to adapt to a market where government intervention could help stabilize sell-offs.”

Renewed Interest in $100K Bitcoin Options

Amid this renewed optimism, traders are increasingly betting on Bitcoin surpassing the $100,000 mark. Open interest in Deribit-listed $100K strike call options has surged by 1,163 contracts, amounting to more than $100 million in value—the largest increase among all options on the exchange.

“$100K will be the key level to watch throughout the week,” Greg Magadini, director of derivatives at Amberdata, stated in an email. He also pointed to the upcoming March 7 crypto summit, suggesting the market could experience a “buy the rumor, sell the news” scenario around the event.

The shift in sentiment is also reflected in short-term option skews, which measure the implied volatility premium of call options relative to puts. Skews for seven-, 30-, and 60-day options have rebounded to neutral or positive territory, a stark reversal from deep negative readings last Friday when traders scrambled to buy protective put options.

“People tend to buy calls and sell puts when markets recover,” said Lin Chen, head of Asia business development at Deribit, in a comment to CoinDesk.

Concerns Over Execution and Regulatory Hurdles

Despite the optimism, some analysts remain skeptical about the feasibility of Trump’s crypto reserve plan.

“This is just talk for now. Let me know when they secure congressional approval for funding or revalue the gold price higher—without that, they have no money to buy Bitcoin or altcoins,” Arthur Hayes, co-founder of Maelstrom Fund, wrote on X.

Ben Zhou, CEO of Bybit, expressed a similar stance, pointing out the challenges in execution and regulatory approval.

Mark Hiriart, head of sales at Zerocap, noted in an email, “While institutional demand may increase, uncertainties around regulatory frameworks and broader economic conditions could impact whether this rally has long-term staying power.”

With the White House Crypto Summit on March 7 expected to shed more light on the strategic reserve, market participants remain watchful of further developments that could shape the future of crypto regulation and adoption.