Ether-Bitcoin Ratio Stays Bearish in Crypto Options as Trump Omits BTC in Inaugural Address.

BTC Options Show Continued Bullish Bias Over ETH After Trump’s Inaugural Speech Skips Bitcoin Reserve

Bitcoin (BTC) options continue to show a strong preference over Ether (ETH), even after President Donald Trump’s inaugural speech failed to mention the highly anticipated strategic bitcoin reserve, leaving many in the crypto market disappointed.

As of noon Hong Kong Time, options data from Deribit reveals that BTC call options are still trading at a higher premium compared to ETH calls. This bullish sentiment is reflected in risk reversal metrics tracked by Amberdata, where BTC’s risk reversal shows a four to five-point premium for short-term and near-term calls over puts. In contrast, ETH calls are trading at a much lower volatility premium relative to puts, signaling weaker demand for Ether in comparison to Bitcoin.

This dynamic has contributed to the ongoing downtrend in the Ether-Bitcoin ratio, which hit a three-year low of 0.03 earlier this week. The persistent preference for Bitcoin is particularly noteworthy given that Trump’s inaugural address did not touch on the possibility of a strategic bitcoin reserve, despite earlier market speculation.

Additionally, a report indicating that the GOP’s congressional priorities do not include Bitcoin or crypto-related initiatives has further added to the market’s uncertainty.

Traders on Polymarket, a decentralized betting platform, now give only a 38% chance of Trump announcing a strategic Bitcoin reserve within the first 100 days of his presidency, down from nearly 50% just a day ago. This shift in expectations reflects the growing caution in the crypto market regarding Trump’s stance on digital assets.

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