Bitcoin Has Stopped Moving — Traders Are Paying Up Anyway
Despite Bitcoin's price remaining stagnant around $64,700, traders are actively purchasing put options for protection against potential downturns, particularly around the $62,000 and $63,000 levels. This activity, occurring ahead of the U.S. jobs report, suggests a market where demand for insurance is present but underlying conviction is weak, with low implied volatility indicating an expectation of minimal price movement.
- Entities
- Person: Luke Deans
- Topic: Options Market
- Topic: Volatility
- Topic: Cryptocurrency
- Game: Bitcoin
- Topic: Financial Markets
- Company: Bitwise
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