According to data disclosed by GreeksLive macro researcher Adam on the X platform, the implied volatility of BTC and ETH dropped rapidly after the BTC halving, with the representative BTC Dvol falling from 75% to below 65%, hitting a new low since March.
On the one hand, the stagnant market has caused the market's realized volatility RV to drop significantly, suppressing the implied volatility IV from the pricing side. On the other hand, there was a certain wait-and-see attitude towards the margin released by the quarterly large delivery before the halving. As the market gradually stabilized before and after the halving, the continued selling by large investors further reduced volatility expectations. Historically, BTC has entered a period of price weakness starting from mid-April. If you are desperate, selling call options in May is very cost-effective. #crypto2023A
