BTC, XRP News: Large Traders Take Diverging Strategies on Crypto Market Volatility

Large traders in the cryptocurrency market are adopting differing strategies as Bitcoin (BTC) and XRP face significant volatility. BTC traders are utilizing non-directional options such as strangles and straddles, with strangles constituting 16.9% of option blocks on Deribit, indicating a bet on major price movements regardless of direction. In contrast, XRP traders are showing a preference for strategies that assume lower volatility, exemplified by the execution of a short strangle on XRP, which involves selling call and put options, betting that XRP prices will remain stable within a specified range. This approach suggests that they believe macroeconomic uncertainties have been priced in and that XRP will stay between $2.2 and $2.6. The divergent strategies highlight a market filled with uncertainty, as traders adjust their tactics based on their outlook for volatility across these two major cryptocurrencies.

Source 🔗