SignalPlus Volatility Column (20231024): iShares spot BTC ETF has been registered, and the price of Bitcoin rose above 34,000
ETF analyst Eric Balchunas said that BlackRock’s proposed iShares spot Bitcoin ETF has been filed with the Depository and Clearing Corporation (DTCC), indicating that the fund may receive approval from the U.S. Securities and Exchange Commission (SEC). Boosted by the news, Bitcoin rose above the $34,000 mark.
Source: Twitter
Source: Binance TradingView, BTC breaks through 34,000 mark
Source: SignalPlus, Economic Calendar
In terms of options, the surge in actual volatility has pushed the implied volatility sharply higher again. The overall IV level of BTC has reached nearly 60%, and that of ETH is around 50%. In terms of transactions, we pay attention to
1. BTC/ETH market-wide option trading volume has increased significantly, reaching a trading volume of $5.26 B/$1.45 B respectively in the past day.
2. At 7 oclock on 24 Oct UTC, when the BTC price gradually fell from its high point, a total of 3,000 groups of 34,000 vs 40,000 Call Spread at the end of December were sold in batches, and the price at the time of transaction was approximately 33.7 K ~ 34 K;
Third, the bullish triangle spread strategy of buying near (24 Nov) and selling far (29 Dec) has a large number of transactions on BTC/ETH;
Fourth, the Skew of the two currencies showed different trends in the past day. Specifically, the Skew of the mid- and front-end BTC dropped sharply to near zero, while ETH continued to rise and exceeded the recent historical high. In terms of trading, after the RR of BTC fell back, a 28000 vs 36000 Long Risky (1000 BTC Per Leg) got a rare opportunity to build a position; ETHs Risky Trade showed a relatively balanced trend, with Short Risky and rallies selling. The trading volume of Long Risky, which continues to rise, reached 46.9 K ETH and 25.7 K ETH respectively, and most of them were concentrated at the end of November.
Source: SignalPlus
Source: Deribit (as of 24 Oct 16:00 UTC+8)
Source: SignalPlus
Source: Deribit Block Trade
Source: Deribit Block Trade
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