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Bitcoin is Walking Hand in Hand with Euro: Institutions are Taking Rise-Focused Risks! - Coin Bulletin
Bitcoin (BTC) gained strength against the euro and the dollar, which shows that investors tend to shift their capital from US assets to other safe havens.
Recently, the option data related to Bitcoin (BTC) and euro-dollar (EUR/USD) exchange rates indicates these assets, which have shown a strong stance despite the decline in the U.S. stock market.
According to data obtained from platforms like Deribit and Amberdata, the short-term risk reversals of Bitcoin are slightly positive, indicating an increase in demand for call options. This situation follows a period where put options were in higher demand.
The EUR/USD risk has reversed positively, indicating an increase in demand for euro. These developments signal that investors are starting to move away from U.S. assets towards other assets like Bitcoin (BTC) and euro. In particular, the uncertain economic conditions in U.S. are directing investors towards assets considered safer.
On Monday, Bitcoin (BTC) exceeded $88,000. During the same period, the euro/dollar exchange rate rose to 1.1575, reaching its highest level since November 2021. This shows that investors are turning to alternative assets following the weakening of the dollar.