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>>Covered calls by Bitcoin whales could curb the price rally even amid strong ETF demand.

Covered calls by Bitcoin whales could curb the price rally even amid strong ETF demand.

crypthub

3 days ago

ETF Demand and Spot Price Suppression

Bitcoin’s spot price stays muted even as ETF interest surges. Long‑term holders, often called whales, are selling covered calls on their Bitcoin positions. While this yields premium income, it also introduces sell‑side pressure.

Impact of Whale Covered Calls

Market makers hedge the sold calls by offloading spot BTC, which offsets buying pressure from traditional investors. Consequently, the whales’ covered‑call strategy adds overall downward pressure on Bitcoin’s price.