PANews reported on January 21 that according to CoinDesk, after President Donald Trump did not mention any cryptocurrencies in his inaugural speech on Monday, options listed on the Deribit exchange showed that the downward trend of the ETH/BTC ratio continued. According to risk reversal data tracked by Amberdata, as of noon Hong Kong time, Bitcoin call options were trading at higher prices than Ethereum call options in multiple time periods. Risk reversal is calculated by measuring the difference in implied volatility of call options relative to put options. When this value is positive, it means that the market is bullish.

Notably, BTC’s risk reversal shows that short-term and near-term call options are trading at 4 to 5 volatility points higher than put options. Meanwhile, Ethereum call options are trading at a relatively low volatility premium to put options. In other words, the ETH/BTC ratio is expected to continue to fall. Earlier this week, the ETH/BTC ratio had already hit a three-year low of 0.03.