硬幣指標研究顯示，隨著選舉後比特幣（BTC）交易達到前所未有的水平，看漲期權興趣增加

Coin Metrics 最近的一份報告強調了選舉後比特幣 (BTC) 的交易達到了前所未有的水平，期權市場顯示出投資者的強烈樂觀情緒。

Bitcoin (BTC) options markets have seen unprecedented activity post-election, with the options market indicating strong investor optimism, according to a recent report by Coin Metrics.

根據 Coin Metrics 最近的一份報告，比特幣 (BTC) 期權市場在選舉後出現了前所未有的活躍，期權市場顯示出投資者的強烈樂觀情緒。

Coin Metrics Analysis Highlights Surging Call Option Interest

硬幣指標分析凸顯買權興趣激增

Coin Metrics’ analysis delves into bitcoin’s rally following the recent U.S. election, which was accompanied by unprecedented trading volumes and new all-time highs for BTC. The report notes that bitcoin’s price surged from $67,000, trading up to nearly $90,000 within days, fueled by a key metric in options markets.

Coin Metrics 的分析深入研究了最近美國大選後比特幣的反彈，伴隨著比特幣前所未有的交易量和歷史新高。報告指出，在選擇權市場一項關鍵指標的推動下，比特幣的價格在幾天之內從 67,000 美元飆升至近 9 萬美元。

This surging call option activity, especially at higher price levels, indicates a prevailing bullish sentiment. Analysts at Coin Metrics suggest that the dramatic rise in open interest aligns with increased confidence in bitcoin’s regulatory future, given the extensive campaign discourse around digital asset regulation.

買權活動的激增，尤其是在價格較高的情況下，顯示看漲情緒普遍存在。 Coin Metrics 的分析師表示，鑑於圍繞數位資產監管的廣泛競選討論，未平倉頭寸的急劇上升與人們對比特幣監管未來的信心增強是一致的。

The Coin Metrics study also examines implied volatility (IV) as a metric reflecting market sentiment. Analysts observed a spike in bitcoin’s implied volatility leading up to Election Day, reflecting the general market uncertainty, which then sharply declined once the election results were confirmed.

Coin Metrics 研究也檢視了隱含波動率（IV）作為反映市場情緒的指標。分析師觀察到，在選舉日之前，比特幣的隱含波動率大幅上升，反映出整體市場的不確定性，一旦選舉結果得到確認，隱含波動率就急劇下降。

This reduction in IV signaled a decrease in perceived risk, which Coin Metrics attributes to traders’ optimistic outlook on regulatory clarity following the election. The report suggests that the temporary increase in IV and subsequent drop mirrors the market’s broader sentiment shifts as election results unfolded.

IV 的下降標誌著感知風險的下降，Coin Metrics 將其歸因於交易者對選舉後監管清晰度的樂觀前景。該報告表明，IV 的暫時上升和隨後的下降反映了隨著選舉結果的公佈，市場更廣泛的情緒變化。

Options market data in the Coin Metrics report shows a distinct skew toward call options expiring over the next several months at strike prices between $90,000 and $120,000. This positioning, according to Coin Metrics researchers, suggests that options traders expect bitcoin to appreciate further in the medium term.

Coin Metrics 報告中的選擇權市場數據顯示，未來幾個月到期的看漲期權明顯偏向執行價格在 90,000 美元至 120,000 美元之間的看漲期權。 Coin Metrics 研究人員表示，這種定位表明選擇權交易者預計比特幣在中期內將進一步升值。

Elevated call option interest in this price range reflects a significant shift toward bullishness among traders, reinforcing the view that participants are preparing for potential upward price movements in the coming months. Coin Metrics’ report concludes that the recent election’s impact on bitcoin markets is likely twofold: an immediate response to perceived regulatory clarity and a sustained bullish outlook as traders position for future price increases.

該價格範圍內看漲期權興趣的上升反映出交易者的看漲情緒發生了重大轉變，強化了參與者正在為未來幾個月潛在的價格上漲做好準備的觀點。 Coin Metrics 的報告得出的結論是，最近的選舉對比特幣市場的影響可能是雙重的：對監管明確性的立即反應，以及交易者對未來價格上漲的預期的持續看漲前景。

While enthusiasm around the election has fueled a price surge, analysts note that it remains to be seen if this momentum will hold. The options market data, however, suggests a

儘管圍繞選舉的熱情推動了價格飆升，但分析師指出，這種勢頭能否持續還有待觀察。然而，期權市場數據表明