Bitcoin

Ethereum

Nvidia (NVDA), a well-known stock in the artificial intelligence (AI) field, is likely to see bigger price changes than <a href="https://optimisus.com/news/crypto-news/global-crypto-trading-volume-is-estimated-to-exceed-108-trillion-in-2024/" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum, which are the two most popular cryptocurrencies.It has gone from 48% to 71% for NVDA’s 30-day options implied volatility, but it has gone down from 68% to 49% for Deribit’s bitcoin DVOL index. It used to be 70%, but now it’s only 55%.Options are contracts that protect owners from price changes that go up or down. Since ChatGPT launched in late 2022, NVDA has become a sign of how people feel about both the stock and <a href="https://optimisus.com/news/crypto-news/the-mt-gox-estate-transfers-2-2-billion-in-bitcoin-to-an-unknown-wall/" rel="noopener noreferrer nofollow">cryptocurrency markets</a>. It is a leading indicator for AI and GPUs.The price changes of Bitcoin and NVDA are strongly linked to each other. The connection between their 90-day prices is 0.73. NVDA’s stock has dropped 26% since it hit a high of $140 last month, which is a sign that the crypto market should be bearish.What caused the rise in NVDA’s expected volatility? Market makers were likely hedging, which happens a lot in the crypto market. The U.S. stock market has dropped a lot because of negative gamma trading. NVDA’s front-month implied volatility level is higher than that of cryptocurrencies like BTC and ETH.

NVDA’s 30-day implied volatility surpasses Bitcoin and Ethereum’s

Optimisus

Other articles published on Aug 1, 2024

Aptos reveals $10m ecosystem growth fund with support from OKX Ventures

Floki Announces Valhalla Sponsorship for India’s Tour of Sri Lanka, Targeting 220M Viewers

$BLOOD Initiates Pre-Sale Amid Plans Of Revolutionizing Meme Coin Market

Bitcoin Price Drops After Initial Surge to $70,000

eCash Monthly Recap - July 2024

Spot Ethereum ETFs See First Green Day Since Launch With $34 Million Inflow

Join our free newsletter for daily crypto updates!