BTC Volatility Soars Amid Election Uncertainty: Traders Brace for Price Swings

According to a recent analysis by Nick Forster, founder of Derive.xyz (formerly Lyra), the overnight forward volatility levels for Bitcoin (BTC) and Ethereum (ETH) have seen a significant uptick. Currently, Bitcoin’s volatility is reported at 80.30%, a rise from 72.20%, whereas Ethereum’s volatility has climbed to 82.92%, up from 75.40%. Forster attributes this increase to traders positioning themselves ahead of upcoming election results, which are poised to heavily influence market prices. There is a noteworthy two-thirds probability of substantial price fluctuations on election night, with BTC projected to oscillate between -8.97% and +9.85%, while ETH’s range is slightly broader, estimated between -9.25% and +10.19%. Additionally, Forster highlighted that open interest for bullish options on BTC stands at 1,179 contracts, compared to 885 for bearish options, underscoring a prevailing bullish sentiment in the market despite anticipated volatility.

Source: https://en.coinotag.com/breakingnews/btc-volatility-soars-amid-election-uncertainty-traders-brace-for-price-swings/