Bitcoin Breaks $100K Amid Market Volatility: November Option Volatility Report by Bybit and Block Scholes

DUBAI, UAE, Dec. 6, 2024 /CNW/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with Block Scholes, unveils its November Option Volatility Report, spotlighting Bitcoin (available on Coinbase)(BTC)’s remarkable milestone of surpassing $100K. This detailed analysis delves into key market dynamics and option volatility trends, offering insights to guide traders through the evolving crypto landscape.

Bitcoin (available on Coinbase)‘s Volatility on the Path to $100K

Bitcoin (available on Coinbase)‘s journey to $100K has been fueled by surging demand for call options and sTron (available on Binance)g bullish sentiment, particularly leading up to the U.S. presidential election on November 5.

Implied Volatility Surge: Short-term implied volatility spiked 25 percentage points higher than post-election expirations, signaling traders’ anticipation of significant price movements tied to electoral outcomes.

Call/Put Skew Dynamics: Elevated demand for bullish call options underpins the market’s optimism. Despite a temporary retracement to $91.3K, futures markets reflected persistent bullishness, affirming confidence in BTC’s resilience.

Ethereum (available on Coinbase) Outshines Bitcoin (available on Coinbase) Post-Election

Ethereum (available on Coinbase) (ETH) continues to gain traction, bolstered by pivotal market events, including the resignation of SEC Chair Gary Gensler.

ETH‘s Momentum: Traders are increasingly favoring ETH, as evidenced by a declining BTC-to-ETH spot price ratio and rising demand for ETH options.

Implied Volatility Premium: ETH‘s options market demonstrates robust bullish sentiment, with a sTron (available on Binance)ger skew towards calls compared to Bitcoin (available on Coinbase).

Insights from the Report

The report captures the nuanced interplay of volatility, trader sentiment, and macroeconomic factors shaping the crypto market’s future. Key takeaways include:

The sustained bullish outlook for Bitcoin (available on Coinbase) despite short-term volatility adjustments.

Ethereum (available on Coinbase)‘s growing dominance and potential to outperform Bitcoin (available on Coinbase) in the near term.
The significant influence of political and regulatory developments on crypto market dynamics.

Commenting on Bitcoin (available on Coinbase)‘s milestone achievement of $100K, Shunyet Jan, Head of Institution at Bybit, emphasized the pivotal role of recent political developments in driving the surge.

“The recent rally can largely be attributed to Trump’s pick of Paul Atkins, a former SEC Chair and a vocal crypto supporter. This announcement has significantly bolstered institutional confidence in the crypto space,” said Jan.

Jan further highlighted the shift in sentiment among traditionally crypto-cautious institutions:

“Many institutions that were previously hesitant about crypto have now reached out to explore opportunities. They are actively engaging with us to onboard and propose various custodial solutions. This marks a transformative moment in the institutional adoption of cryptocurrency, with Bitcoin (available on Coinbase)‘s $100K milestone serving as a critical inflection point.”

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/november-option-volatility-report/

#Bybit /#BybitResearch #BTC100K

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social Media

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