Bitcoin's Upside May Be Capped
Some analysts believe that Bitcoin's upside is capped due to options data and market maker activity suppressing rallies, although the long-term outlook remains bullish.
Following last week's tumultuous event, which triggered the worst cascading set of liquidations in crypto's 16-year history, Bitcoin has slowed its momentum, trading at around $113,500, down about 1.5% over the past 24 hours, according to CoinGecko data.
Heightened bearish activity during last week's sell-off has led to a significant increase in put options expiring on October 31,
according to Hendrik Ghys, founder of futures and options exchange Thalex Global. Implied volatility has repriced downward to the low 40s in the short term and around 45% for longer horizons, Ghys wrote.
Author's summary: Bitcoin's upside may be capped due to market activity.
- Bitcoin's price: $113,500
- 24-hour change: -1.5%
- Implied volatility: low 40s (short term), around 45% (longer horizons)
More News
- James Gunn Reveals If Man of Tomorrow Answers This Big Peacemaker Question
- Investing in fintechs can spur greater access to financial services: report | Investment Executive
- NACIQI Meeting Delayed by Government Shutdown
- A L Hek’s Irresponsible Remarks on Law & Order AccountabilityThe Shillong Times
- Former federal employees join Democrats to rally against coming RIFs
- Popette: Pedro Pascal stays booked and busy
- Long-Distance Lovers, These Sweet Quotes Are for You
- Will Jen Affleck Perform on ‘DWTS’ Tonight? Her Husband Zac Asks Fans for “Prayers” Amid Illness
- Younger U.S. priests remain more conservative than older priests, survey says
- Trial for Detroit woman found alive in body bag delayed