Over last week, the price of bitcoin has soared in optimistic resurrection, and has been promoting assets within the highest level of $ 124,400. Among this happiness, there was a remarkable change in the optional trading market, which could have a big impact on the price trajectory of the BTC.
Bitcoin option trader aims to rise as market changes
According to a report from GlassNode, a Blockchain Analytics company, last week’s record expiration has effectively reset the public interest by arranging a back log of a real contract. As the board wipes the clean and fresh position, the merchants now show that the trader is out of the down hedge and more aggressively exposed when the Q4 starts.
For example, volatile readings are expected by the trader to settle Bitcoin immediately. The one -week implicit volatility (IV), the main scale of the expected market swing, dropped by about 3 points from last week’s high, and the two -week contract dropped to two points. However, the longer maturity is fixed in the range of 40-43%, so it is a short-term calm picture, but it is uncertain in the second half of that year.
Another important technical change, on the other hand, was shown in the RISK Reversals (RR), which measured the crooked between the currency and the demand for imposition. The 25 Delta RR a week has shaken rapidly in 18.5 Vol PUT Premium, indicating strong demand for shortcomings. The longer maturity is flat, showing a balanced risk outlook, but strengthens the short -term strength.
Market flow checks up bias: target target $ 136K and $ 145K
Interestingly, according to GlassNode data, the optional market flow data checks the ongoing optimism. Merchants now have a net premium on the strike range of $ 136,000 -$ 145,000, and the upward phone is released. The activity reflects the expectation of the continuous Bitcoin robber, but the participants who are proposed when the strike are higher are not yet ready to follow the extreme parabolic goals.
On the other hand, the dealer gamma exposure remains in the environment since EXPIRY, and the dealer has a humble long gamma on both sides. This stabilization impact can weaken volatility in the short term, but the next main expiration is limited because it is still a few weeks away. Therefore, meaningful hedging flow will be closer to the future expiration.
At the time of writing, Bitcoin continues to be traded for $ 122,086 after 11.92%of the last day. In particular, the daily trading volume of assets increased 19.01% and $ 85.94 billion.
FLICKR’s main image, TradingView chart
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