With Donald Trump's victory in the 2024 US Presidential Elections, the crypto market surged, with Bitcoin reaching a new all-time high and the overall market cap increasing by $205 billion. 10x Research proposes five trading opportunities in the volatile market.
Trade 1 involves selling Bitcoin puts amidst elevated volatility, as implied volatility for Bitcoin's options surged. Analysts suggest that managing gamma ahead of major events remains profitable, especially as volatility is expected to drop soon.
Trade 2 suggests using Ethereum as a funding short, given recent declines in DeFi activity and Ethereum fees, and anticipated entry of Ethereum ETFs from BlackRock.
Bitcoin dominance increased from 50% to 60%, signaling strong potential for outperformance, according to the third trade idea. Investors hold confidence in Bitcoin, contributing to a supply shortage as they reallocate from altcoins to Bitcoin.
The fourth trade, related to Solana, highlights interest in liquid staking platform Jito, which has seen fee spikes aligning with market rallies.
Finally, the fifth trade idea points to continued strong activity in the Jupiter protocol within the Solana ecosystem, driven by speculation about a Solana ETF approval.
