Bearish Sentiment on Ether-Bitcoin Ratio Persists in Crypto Options After Trump’s Inaugural Speech Skips BTC.

BTC Options Remain Bullish Over ETH Despite Trump’s Silence on Bitcoin Reserve in Inaugural Address

Options data continues to indicate a strong preference for Bitcoin (BTC) over Ether (ETH), even after President Donald Trump skipped any mention of a strategic bitcoin reserve during his inaugural speech on Monday.

Data from Deribit shows that Bitcoin call options remain consistently priced higher than those for Ether, reflecting a bullish outlook for BTC. By noon Hong Kong Time, BTC call options were trading at a higher premium than ETH calls, based on risk reversals tracked by Amberdata.

Risk reversals measure the difference in implied volatility between call and put options, with positive values signaling a market tilt toward bullish sentiment. The risk reversal for BTC shows that short-term and near-term calls are trading at a four-to-five-point volatility premium over puts, while ETH calls are trading at a much smaller premium relative to puts, signaling weaker bullish sentiment for Ether.

As a result, the Ether-Bitcoin ratio has continued its downward trend, hitting a three-year low of 0.03 earlier this week. This persistent bias for Bitcoin is notable, especially considering that Trump did not mention the much-anticipated strategic bitcoin reserve, despite speculation ahead of his speech.

Moreover, a report highlighting the GOP’s congressional priorities showed no mention of Bitcoin or cryptocurrency, further dampening market sentiment.

Traders on the decentralized betting platform Polymarket have adjusted their predictions, with only a 38% chance now seen for Trump to announce a strategic Bitcoin reserve in his first 100 days, a notable drop from nearly 50% just a day ago.