SignalPlus Volatility Column (20230717): Trading Volume and Implied Volatility Remain at Low Levels

特邀专栏作者

2023-07-17 19:00 (UTC+8)

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In the past two days, as cryptocurrency re-entered the consolidation phase, the trading volume in the options market plummeted. There was also little interest in bulk trading. On Deribit, the ratio of retail traders to bulk trades for BTC/ETH was approximately 5:1 and 9:1 respectively. The implied v

AI Summary

Last Thursday evening, Ripple broke the calm of the past period with a rare "regulatory victory" for the cryptocurrency industry, and XRP surged more than 100% in the short term. BTC also launched an attack along with other assets in the market, soaring to 31800, the highest price in over a year for this asset. However, cryptocurrencies failed to sustain the momentum of the increase and quickly retreated on Friday evening. BTC once again fell below 30000, but soon the price quickly returned to above 3W and calmly passed the entire weekend. According to data from Coinmarketcap, this XRP brought significant trading enthusiasm but did not bring enough new funds to support its continued rise. It can be seen that while the XRP price almost doubled, its Market Cap also increased by nearly 10+ Bio, and millions of shorts were liquidated, but mainstream large coins and stablecoins (USDT/USDC) did not see a corresponding increase in inventory.

Source: coinmarketcap: XRP Price; XRP Market Cap

Source: coinmarketcap: USDT Market Cap; BTC Market Cap

In the past two days, as the cryptocurrency re-enters the consolidation phase, the trading volume in the options market has plummeted, and there is no interest in bulk trading. On Deribit, the ratio of retail traders to bulk trading on BTC/ETH is close to 5:1 and 9:1, respectively. The implied volatility remains slightly below the median level in the past three months. The market is currently observing the key level of BTC 30,000, and the front-end is slightly arched with July 23 as the high point. As of today's delivery, the ATM of BTC/ETH 23 July is 36.7% (+2.6%) / 42.04% (1.27%), and the far end is slightly lower, with September 23 dropping to 42.95% (-1.81%) / 42.85 (-1.05%).

Source: Laevitas, a significant drop in options trading volume

Source: Deribit (as of 16:00 UTC+8)

Source: SignalPlus

Source: Deribit Block Trade

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