Over the past week, Bitcoin prices have risen significantly during a raisy resuscitation and driven access within reach of its current maximum period of approximately $ 124,400. In the midst of this euphoria, there have been remarkable changes in the market trade market, which can spell major consequences for BTC’s price track.
Bitcoin Options trader strives for upwards after market shifts
According to a Report From Blockchain Analytics Glassnode, last week’s end of record options cleared a significant order stock with contracts and effectively “restores” open interest. When the board has dried clean, new positions now show trader that swings away from disadvantages and lean more aggressively to exposure upwards when the fourth quarter begins.
For example, volatility readings suggest that traders expect Bitcoin to settle in the immediate term. One week’s implied volatility (IV), which is an important measure of expected market fluctuations, fell by about three points from last week’s top, and the two -week contract dropped by two. Longer maturities, however, have remained anchored in the range of 40-43% and painted a picture of calm in the short term but a lot of room for uncertainty later in the year.
At the same time, another significant technical change occurred in the risks (RR), which measures the skew between conversation and position demand. One week’s 25-delta-RR swung dramatically from an 18.5 volume premium, which indicates a strong demand for disadvantages, to a 4 volume call, which signals that traders are now paying up for upward protection. Longer maturities also flattened, which shows a more balanced risk prospects but reinforces the short -term haus -like slope.
Market flows confirm upward bias: Price target between $ 136K – $ 145K
Interesting, Glass node Data reveals that market flows options also confirm the ongoing hausseart. Traders have now lifted upwards calls, with net remedies concentrated in the strike interval of $ 136,000- $ 145,000. This activity reflects an expectation of continued Bitcoin strength, but at higher strikes, call sales proposed participants are not yet ready to hunt extreme parabolic goals.
At the same time, reseller remains exposure subdued in after the expiration environment, with retailers modestly long gamma on both sides. This stabilizing influence can dampen the volatility in the short term but remain limited as the next major output is still weeks away. Therefore, meaningful fuse flows will probably return closer to future exits.
At the time of writing, Bitcoin continues to trade at $ 122,086 after a remarkable 11.92% profit over the past day. In particular, the asset’s daily trade volume is increased by 19.01% and is valued at $ 85.94 billion.
Image from Flickr, Chart from TradingView
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