Bitcoin Surges to New All-Time High after Trump's win

Interest in Bitcoin futures, especially contracts speculating on the price surpassing $90,000, rose sharply to $2.8 billion on Deribit, one of the most prominent offshore platforms for crypto options trading. According to Vetle Lunde, head of research at K33 Research, the options market remains heavily skewed toward bullish sentiment, with open interest leaning strongly toward call options over puts—a clear indication of growing investor expectations for upward momentum.

On the Chicago Mercantile Exchange (CME), which offers institutional-grade futures contracts, premiums on Bitcoin and Ethereum climbed significantly to 14% and 14.5% respectively, following a trend of steady increases leading up to the elections. Lunde noted that prior to this, premiums averaged around 7%, marking a stark rise as investors doubled down on bullish positions.

The sustained demand and bullish positioning were further evidenced by the recent uptick in open interest for perpetual swaps, derivatives that allow speculation on asset prices without a fixed expiration. While these instruments have grown in popularity, the crypto market’s liquidity often thins on weekends, leading to more pronounced price swings as major markets like CME remain closed, contributing to potential corrections once traditional trading resumes.

This wave of political support also had a notable impact on publicly traded crypto-focused companies. Coinbase, a major contributor to pro-crypto campaigns, saw its stock soar by 48% over the week, marking one of its best performances since early 2023. With $75 million contributed to political action committees (PACs) supportive of crypto, Coinbase is preparing to continue its advocacy ahead of the 2026 midterms, committing an additional $25 million to help pro-crypto candidates.

The changing regulatory landscape also brings hope to companies like Coinbase, especially as Trump has pledged to remove SEC Chair Gary Gensler, whose regulatory stance has been criticized by crypto advocates. Robinhood, another major player in the crypto space, reported a 27% jump in stock price. Facing its own scrutiny from the SEC, Robinhood has shown a commitment to working closely with regulators to help shape crypto policies.

Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, noted that the firm’s goal is to guide policymakers through the complexities of the fast-evolving digital asset space. “Crypto was made by engineers, for engineers,” he explained, emphasizing Robinhood’s role in building trust and understanding with regulators to ensure consumer protection.

​As the political and regulatory landscape shifts in favor of crypto, the market could see sustained demand and participation, both from retail and institutional investors, especially as the total market cap of spot Bitcoin ETFs surpasses $80 billion.