Jamie Crawley is a CoinDesk news reporter based in London.
BTC is little changed, down about 0.8% in the last 24 hours at $69,600, while ETH has risen nearly 2.75% to over $3,800. The wider digital asset market, as measured by the CoinDesk 20 Index is down just over 0.5%. The general outlook for the two largest cryptocurrencies remains bullish. BTC and ETH options on derivatives exchange Deribit continue to reveal a bias for calls, or contracts that allow traders to profit from price rises, according to data tracked by Amberdata.
Shares in Nvidia reached a record high during Wednesday's post-market hours after the company beat analyst estimates to report record revenue of $26.04 billion for the first quarter.. This is because, historically, the inflow of money into the crypto market and the so-called AI coins has been partly contingent on outsized gains in NVDA and the tech-heavy Nasdaq index.
The chart shows SOL's seven-day put options on Deribit are again trading at a premium relative to calls. Investors seem to be preparing for a decline in prices in case the U.S. SEC rejects spot ether applications this week.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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