Bitcoin Options Hit Most Bullish Sentiment Since Trump Election, ETF Inflows Bolster Rally

Bitcoin (BTC) options trading on the Chicago Mercantile Exchange (CME) displayed its strongest bullish sentiment since Donald Trump’s Nov. 5 election victory, supported by rising demand for call options and renewed inflows into U.S.-listed Bitcoin ETFs.

Traders heavily purchased call options, driving the 30-day skew to 4.4%, its highest level since early November, according to data from CF Benchmarks. The skew, which measures the difference in implied volatility between calls and puts, indicates a strong bias toward upside potential when in positive territory.

“Current skew levels reflect optimism not seen since the November election results,” said Thomas Erdösi, head of product at CF Benchmarks, in a statement to CoinDesk. “This demand for upside exposure suggests traders are positioning for significant price gains across all maturities.”

Bitcoin briefly rallied 5%, climbing above $106,000 on Tuesday after buyers defended the $100,000 support level, even as President Trump refrained from mentioning cryptocurrency or a strategic Bitcoin reserve in his inaugural speech.

The recovery was bolstered by ETF inflows, with U.S.-listed spot Bitcoin ETFs seeing cumulative net inflows of $802 million, according to SoSoValue data. BlackRock’s IBIT ETF led the pack, pulling in $661.8 million, solidifying bullish sentiment in the market.

“Bitcoin ETFs have recorded four straight days of strong inflows, totaling over $3 billion for the week, with Bitcoin adding $802 million and Ethereum seeing $74 million,” said Valentin Fournier, an analyst at BRN, in an email to CoinDesk. “This robust institutional participation supports the case for new highs in the near term.”

Meanwhile, blockchain analytics firm Glassnode reported a reduction in profit-taking by long-term holders — wallets that have held Bitcoin for over 155 days — signaling greater confidence in future price growth.

“Volatility could moderate toward the end of the month, but the topside skew is likely to persist, barring any unexpected policy changes,” Erdösi added. “This sustained bullish sentiment should continue to drive upward pressure on Bitcoin’s price.”

With institutional interest growing and technical indicators favoring a bullish outlook, analysts believe Bitcoin is poised to challenge new all-time highs in the coming weeks.