• Bitcoin’s Implied Volatility begins to decline. Options market expects sideways momentum for BTC in the future.
• Price and velocity declined, indicating low transaction activity around BTC.

Bitcoin’s price has seen some harsh volatility over the last few months, however over the last few days it has appeared that BTC is expected to move sideways in the near future.

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Some stability for BTC in the future?

This was indicated by the declining Implied Volatility for Bitcoin. According to glassnode’s data, it has started to reach new lows. This showcases the options markets expectation of Bitcoin to maintain stability in terms of price.

Coming to the behaviour of traders, at press time, approximately 27,000 Bitcoin options were nearing their expiration date, possessing a Put to Call Ratio of 0.64.  A Put to Call Ratio of 0.64 indicates a higher proportion of open call options, which suggests that market sentiment leans towards price increase expectations.

Additionally, these options carry a maximum pain point value of $26,500.  The maximum pain point at $26,500 signifies the price level at which option holders may experience the most significant financial losses. The expiring options collectively possess a notional value of $720 million, signifying a substantial stake in the market.

Will FUD “spread”?

However, the spreads on Binance, which are currently about 20 times wider than those on Coinbase and Kraken could impact BTC in the long run.

Spreads on

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Author: Himalay Patel

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