The current levels of implied volatility for bitcoin and ether options — a measure of expected future price movement — indicate that traders expect the market to be relatively calm over the coming weeks, analysts said.

"Implied volatility rank is 40 and implied volatility percentile is 52, both mid-level indicators which show the market is not expecting a lot of activity," Luuk Strijers told The Block.

Using the Deribit Volatility Index, which measures the market's expectation of future volatility for bitcoin over the next 30 days, the Block's Data Dashboard shows that implied volatility for bitcoin has dropped significantly since mid-May.

Options implied volatility point to sluggish market 

QCP Capital analysts observed the same indicators of a sluggish market, stating that …