Bitfinex said implied volatility outpacing the historical metric indicates that traders foresee wilder price swings ahead.
The latest edition of the Bitfinex Alpha report revealed that cryptocurrency traders are bracing themselves for “choppy waters” ahead due to bitcoin’s sudden plunge after a languid period.
The downward move was followed by a major open interest wipeout, considered one of the largest in the asset’s history. Roughly $3 billion in open interest was obliterated within a few hours after the crash. Bitfinex said it was one of the largest reductions in day-to-day open interest since December 2021, when BTC hit its all-time high of $69,000.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cryptoverse U.S. retail traders eye a fresh piece of the crypto derivatives pieAmerica's mom and pop bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market.
Read more »
Bitcoin Steadies at $26,000 but Crypto Traders Are Bracing for Another StormLast week's selloff snapped weeks of historically low volatility for Bitcoin. While cryptos are steadying, traders brace for more choppy waters.
Read more »
Bitcoin Steadies at $26,000. Crypto Traders Are Bracing for Another Storm.Last week's selloff snapped weeks of historically low volatility for Bitcoin. While cryptos are steadying, traders brace for more choppy waters.
Read more »
Dollar gains intact as China disappoints, traders eye Jackson Hole By ReutersDollar gains intact as China disappoints, traders eye Jackson Hole
Read more »
Southern California and Southwest brace for Tropical Storm Hilary after it makes landfall in MexicoTropical storm conditions, including rain and gusty wind, were expected to begin Sunday afternoon in parts of the Southwest.
Read more »
Dollar gains intact as traders eye Jackson HoleThe dollar began on a firm footing on Monday, following five straight weeks of gains, as investors looked ahead to Federal Reserve's Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears.
Read more »