Ethereum

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-highest-volatility-in-20-months/" data-wpel-link="internal">Bitcoin Reaches Highest Volatility in 20 Months</a><br></p>
<p class="p1" style="text-align: justify">Developments in the <a href="https://en.coin-turk.com/faruk-fatih-ozer-main-suspect-in-thodex-incident-denies-all-accusations-in-court/" data-wpel-link="internal">crypto market</a> continue to attract attention. Following Bitcoin’s drop below $50,000, a significant Bitcoin volatility indicator reached its highest level in 20 months, and futures traders now believe Bitcoin’s price could fall further. Meanwhile, crypto investor Yoddha stated that this could be the best buying opportunity of 2024.</p> 
<h2 class="p1" style="text-align: justify" id="what-is-happening-with-bitcoin">What Is Happening with Bitcoin?</h2> 
<p class="p1" style="text-align: justify">The Bitcoin Volmex Volatility Index reached 97.14 on August 5, when Bitcoin briefly fell to $49,813, according to CoinMarketCap data. This is the highest level since November 2022, the month when the crypto exchange FTX went bankrupt.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377597 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-7.png" alt="" width="2595" height="853"></p> 
<p class="p1" style="text-align: justify">Bitcoin has recovered since trading at $56,676 at the time of publication, but <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> still predict further declines. Ed Hindi, Chief Investment Officer at Tyr Capital, commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Investors are aggressively buying puts and put spreads in both Bitcoin and Ethereum to protect their positions from further declines.”</p> 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="details-on-the-matter">Details on the Matter</h2> 
<p class="p1" style="text-align: justify">The put-call volume ratio measures the demand for Bitcoin’s put (sell) and call (buy) options. According to CoinGlass data, it currently stands at 46.94% call and 53.06% put in the last 24 hours, resulting in a put-call ratio of 1.13. Hindi commented on this:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Put skew is extremely well bid. This could be a sign that the market is overextended. Whether we trade there depends on how far we are from the end of the JPY carry trade pullback. We believe we are nearing the end.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377596 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/veri.webp" alt="" width="2263" height="340"></p> 
<p class="p1" style="text-align: justify">However, another metric, Bitcoin options volume, dropped by 39.73% within 24 hours on August 6, indicating that future investors are uncertain about Bitcoin’s price direction. During this period, not all investors expect a prolonged decline. Others anticipate sideways price movement and even a near-term recovery. RektProof commented on the matter on August 6:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Aggressive selling assumes the price will pause for a while and give us a range. Expect a major reversal soon.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-reaches-highest-volatility-in-20-months/" data-wpel-link="internal">Bitcoin Reaches Highest Volatility in 20 Months</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-reaches-highest-volatility-in-20-months/" data-wpel-link="internal">Bitcoin Reaches Highest Volatility in 20 Months</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Reaches Highest Volatility in 20 Months

Table of Contents

COINTURK NEWS

Other articles published on Aug 7, 2024

Ethereum Price Soars 15% as ‘7 Siblings’ Buys the Dip, But Risks Remain

Icebreaker Secures $5M Seed Funding to Build Blockchain Alternative to LinkedIn

Stablecoin Shake-Up: PYUSD Surges as USDE Slumps

Final Fantasy 14 keeps Square Enix profitable despite no major releases since April 2024

Nexera Suffers Major Cyberattack, $2.9 Million in Tokens Stolen

Nekodex Spot Trading is Live!

Join our free newsletter for daily crypto updates!