Bitcoin touched a new low of $76,389 during the day, then climbed back to $77,370 in the evening.
From the low at 2 p.m., it gained $981, or 1.28%, though it was still down 0.49% over 24 hours. Among the same batch of coins, $XRP 24 rose 2.47% in 24 hours to $1.2815, while $TRX rose 1.61% to $0.3220. They turned green first.
The twist is in the options market: CoinDesk reported today that implied volatility for near-dated Bitcoin options jumped to around 51%. Yesterday, the contracts expiring on November 4 were still at 43.5%—spot prices were climbing back, while people buying insurance were paying more.
Voting in the U.S. midterm elections is happening today. The results aren’t in yet, but the volatility has already been priced into options.
The next level to watch: will $BTC hold above $77,000 first, or fall back to the $76,389 low? This is not investment advice.
From the low at 2 p.m., it gained $981, or 1.28%, though it was still down 0.49% over 24 hours. Among the same batch of coins, $XRP 24 rose 2.47% in 24 hours to $1.2815, while $TRX rose 1.61% to $0.3220. They turned green first.
The twist is in the options market: CoinDesk reported today that implied volatility for near-dated Bitcoin options jumped to around 51%. Yesterday, the contracts expiring on November 4 were still at 43.5%—spot prices were climbing back, while people buying insurance were paying more.
Voting in the U.S. midterm elections is happening today. The results aren’t in yet, but the volatility has already been priced into options.
The next level to watch: will $BTC hold above $77,000 first, or fall back to the $76,389 low? This is not investment advice.
