As President-elect Donald Trump prepares for his second inauguration on January 20, the bitcoin derivatives market is signaling increased expectations of volatility. Data from Derive.xyz derivatives exchanges are showing signs of bearish expectations for the medium-term outlook, with bitcoin puts having increased to 40% of all unpositioned squaring contracts on Derive, rising sharply over the past week. Bitcoin's implied volatility is also climbing, highlighting the uncertainty in the market. Over the past week, Bitcoin's 7-day parity IV rose 3% to 56.5%, while the 30-day IV increased 1.5% to 57.5%. (TheBlock)