Crypto traders are preparing for potential price reductions in Bitcoin (BTC) and Ethereum (ETH) in August, with derive options.
Bitcoin Barsish feeling
According to data shared with CryptoslateThe open interest in Bitcoin put options with an expiration date of August 29 is almost five times higher than the appeal options.
Investors generally buy call options when they expect the price of the asset to increase. Conversely, they buy sales options when they plan to drop the value of the asset.
In particular, around 50% of the put activity of this drift is concentrated around the strike of $ 95,000, while an additional 25% is divided between $ 80,000 and $ 100,000.
Additional confirmation comes from deribit data, a foreground centralized derivative scholarship, where installation options at $ 110,000 and $ 95,000 are prices recorded for more than $ 2.8 billion in open interest.
This suggests that traders are betting more and more on a movement below the six -digit brand.
In addition, the SCKEW options, a measure comparing the cost of calls to calls, has gone from + 2% to -2% in the last month, reflecting an increasing appetite for the protection of declines.
This change of feeling aligns with probability models which give an 18% chance on the BTC revisiting $ 100,000 before the end of the month.
Ethereum volatility increases
Ethereum also experiences an increase in lowering feeling, although to a lesser extent that bitcoin.
Drift data show that for the expiration of August 29, the options put the calls of more than 10%.
The highest concentration of sales activity is around $ 3,200, $ 3,200 and $ 2,200 levels, suggesting that traders are preparing for everything, from the light drop to larger reductions in Ethereum.
In addition, the bias of 30 days of ETH increased from + 6% to -2%, suggesting a similar model of increasing interest in protection against decline.
Meanwhile, Ethereum’s monthly volatility remains higher, with expected volatility of 65%, compared to 35% bitcoin. This suggests that Ethereum could live a more jack -on ride than Bitcoin in the coming weeks.
Given this, Crypto Drive merchants have placed 25% ETH chance below $ 3,000 this month. However, with recent price rebounds, the chances of a fence greater than $ 4,000 doubled at 30% in last week.
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