{"id":10881,"date":"2024-08-07T08:44:01","date_gmt":"2024-08-07T08:44:01","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=10881"},"modified":"2024-08-07T08:20:09","modified_gmt":"2024-08-07T08:20:09","slug":"bitcoin-volatility-hits-20-month-high","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/bitcoin-volatility-hits-20-month-high\/","title":{"rendered":"Bitcoin Volatility Hits 20-Month High"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Volatility Index Reaches Record High Amid Uncertainty<\/h3>\n\n\n\n<p>Bitcoin&#8217;s volatility surged to its highest level in 20 months, as the cryptocurrency dipped below $50,000. This spike in volatility has left traders divided on whether a further decline is imminent. The Bitcoin Volmex Implied Volatility Index reached 97.14 on August 5, the highest level since November 2022, when the FTX exchange collapsed. This sudden increase in volatility has sparked various reactions within the trading community.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Diverging Trader Sentiments<\/h3>\n\n\n\n<p>Despite Bitcoin&#8217;s recovery to $56,676 at the time of publication, many traders remain cautious. Tyr Capital&#8217;s Chief Investment Officer, Ed Hind, noted that traders are actively purchasing put options to hedge against potential losses in both Bitcoin and Ethereum. The put-to-call volume ratio, which measures the demand for sell (put) versus buy (call) options, currently stands at 1.13. This indicates a bearish sentiment, with 53.06% of options being puts and 46.94% calls, according to CoinGlass data.<\/p>\n\n\n\n<p>Hind suggested that while there is concern about further downside, it is unlikely Bitcoin will drop below $45,000. He believes that the end of the JPY carry trade unwind might stabilize the market soon.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Mixed Market Outlook<\/h3>\n\n\n\n<p>Not all traders share the bearish outlook. Pseudonymous crypto trader Yoddha has described the current market situation as potentially &#8220;the best buying opportunity of 2024.&#8221; Similarly, trader RektProof suggested that after the aggressive sell-off, Bitcoin might enter a period of sideways trading, possibly leading to a reversal. Vivek Sen, founder of Bitgrow Lab, echoed this sentiment, predicting a significant reversal soon.<\/p>\n\n\n\n<p>Despite the prevailing uncertainty, Bitcoin options volume dropped by 39.73% over 24 hours on August 6. This decline indicates that traders are unsure about Bitcoin&#8217;s future price direction, reflecting the broader market&#8217;s indecision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volatility Index Reaches Record High Amid Uncertainty Bitcoin&#8217;s volatility surged to its highest level in 20 months, as the cryptocurrency dipped below $50,000. This spike in volatility has left traders divided on whether a further decline is imminent. The Bitcoin Volmex Implied Volatility Index reached 97.14 on August 5, the highest level since November 2022, [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":6294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,18],"tags":[],"class_list":{"0":"post-10881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-market-updates"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin Volatility Hits 20-Month High<\/title>\n<meta name=\"description\" content=\"Volatility Index Reaches Record High Amid Uncertainty Bitcoin&#039;s volatility surged to its highest level in 20 months, as the cryptocurrency dipped below\" \/>\n<meta name=\"robots\" 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