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Preliminary Consensus on U.S.-China Trade Deal May Unlock Bitcoin Upside, Exchange Says
Flows have largely leaned bearish since the Oct. 10 crash.
Oct 28, 2025, 3:34 a.m.
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What to know:
- Preliminary consensus on a U.S.-China trade deal may bring next leg higher in bitcoin, according to Deribit.
- Bias for Deribit-listed BTC put options has weakened as Trump-Xi meeting looms.
- Flows have largely leaned bearish since the Oct. 10 crash.
Preliminary consensus on a U.S.-China trade deal may unlock fresh upside for bitcoin , according to crypto derivatives exchange Deribit.
Markets are closely watching the impending meeting between President Donald Trump and his Chinese counterpart Xi Jinping in Korea this week after Trump threatened 100% tariffs on Chinese goods starting Nov. 1, in response to China's decision to tighten grip over rare earth minerals.
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Trump has reportedly expressed confidence that both nations will come to an agreement, raising hopes of easing one of the key geopolitical tensions impacting markets.
Interestingly, bias for protective puts in Deribit-listed BTC options has already weakened. Data tracked by Amberdata show the volatility premium of downside puts over calls has shrunk to 2-3% from about 5% following the market turmoil triggered by the tariff threats on Oct. 10.
Since that crash, flows have skewed bearish overall, with traders favoring outright put longs and put spreads alongside aggressive call overwriting.
Bitcoin has rebounded to $114,000 after falling sharply from $126,000 to nearly $105,000 early this month, CoinDesk data show.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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