Option Whales Not Convinced! Expecting a Short-Term Decline in Bitcoin and Two Altcoins, Rise in XRP!

Watching the White House Crypto Summit hosted by Donald Trump today in Bitcoin and altcoins.

As the critical summit approaches, Trump signed an executive order to establish a Strategic Bitcoin Reserve in the US.

White House crypto advisor David Sacks stated that the reserve will be financed with Bitcoins seized by the government through criminal or civil asset forfeiture, and therefore will not impose an additional cost on taxpayers.

For now, the absence of new purchases means that the reserve will not exert any buying pressure on the market, serving as a strategic stock function, while this situation disappointed investors.

Block Scholes, according to Deribit data, said this situation has led to an increase in investors' BTC, Ethereum (ETH), and Solana (SOL) short-term put options.

However, call options on XRP continue to remain strong.

As Trump's reserve move fails to meet expectations, fears of downward pressure increase, with investors expecting further declines in BTC, ETH, and SOL.

Block Scholes research analyst Andrew Melville said there is intense demand for put options on BTC, ETH, and SOL in the short term, while the situation in XRP remains positive.

An analyst said that the options largely reflected the market's disappointment following the long-awaited Strategic Reserve execution order of Trump.

Short-term trends for BTC, ETH, and SOL options are concentrating in put options.

However, while the end of April and beyond still maintains a bullish trend for BTC and ETH, XRP options show a positive trend in all maturities longer than one week.