In accordance with Coindesk, in a choppy market environment, Bitcoin and XRP traders are positioning themselves with divergent strategies. Bitcoin investors are using non-directional options like strangles and straddles to bet on volatility, while XRP traders are shorting strangles, betting against increased volatility. Deribit data shows that strangles and straddles accounted for 16.9% and 5% of Bitcoin option blocks traded, respectively, over the past week. In contrast, XRP traders executed a short strangle trade involving 80,000 XRP contracts, betting the asset will remain between $2.2 and $2.6. Deribit's Asia business development head noted that XRP's at-the-money implied volatility has surged above 80%, reflecting heightened macroeconomic uncertainty.
Bitcoin and XRP Traders Take Opposing Volatility Bets Amid Market Uncertainty
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