The Block Crypto News10 minutes ago

Published on July 24, 2024 10:59 GMT+00:00edited on July 24, 2024 11:04 GMT+00:00

The difference in implied volatility between bitcoin call and put options has decreased by three volatility points, suggesting that the market sentiment has shifted over the past 24 hours — showing caution towards the downside — according to QCP Capital analysts.

"While spot prices remain muted, the options market is painting a different picture. July 26 vols made an impressive 8-vol rally with risk-reversal dipping by 3 vols signalling caution to the downside," QCP Capital analysts said.

QCP Capital analysts noted that expectations for further downside movement in the options market are being heightened by fears of sell pressure. These concerns are fueled by the U.S. Government transferring bitcoin to Coinbase and Kraken-based Mt. Gox creditors receiving their long-awaited assets.

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