After the election results were finalized, the way $BTC was priced was more interesting than the results themselves.
It plunged sharply at one point during the day, then recovered all its losses in a V-shaped rebound. It is now around 78,500, up about 2% over 24 hours.
Dick Lo, founder of TDX Strategies, said the drop was driven by a sweeping Democratic victory, while the rebound came from uncertainty being resolved. Nicolas Quatravaux, Paradigm’s head of EMEA, offered a more concrete set of figures: Bitcoin options block trades had a notional value of about $660 million on election day, more than twice the previous day’s total. Of that, about $420 million was in call buying and roughly $105 million in call selling.
He also noted that Polymarket had earlier put the odds of a Democratic victory above 75%.
In event-driven markets, certainty is the most expensive thing.
It plunged sharply at one point during the day, then recovered all its losses in a V-shaped rebound. It is now around 78,500, up about 2% over 24 hours.
Dick Lo, founder of TDX Strategies, said the drop was driven by a sweeping Democratic victory, while the rebound came from uncertainty being resolved. Nicolas Quatravaux, Paradigm’s head of EMEA, offered a more concrete set of figures: Bitcoin options block trades had a notional value of about $660 million on election day, more than twice the previous day’s total. Of that, about $420 million was in call buying and roughly $105 million in call selling.
He also noted that Polymarket had earlier put the odds of a Democratic victory above 75%.
In event-driven markets, certainty is the most expensive thing.
