CoinOtag
2025-12-13 22:25:21

Bitcoin Whales’ Covered Calls May Dampen Price Rally Despite ETF Demand

Bitcoin's spot price remains suppressed despite strong ETF demand because long-term holders, or whales, are selling covered calls on their holdings. This strategy generates premiums but introduces sell-side pressure as market makers hedge by selling spot BTC, countering the upward momentum from traditional investors. Whales' covered calls create net downward pressure on Bitcoin prices by [...]

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