Bitcoin’s implied volatility has been caught within a consistent downtrend throughout the past several weeks
This comes as global instability mounts and as BTC’s mining rewards halving fast approaches
Following the massive volatility seen in mid-March when the cryptocurrency declined from roughly $8,000 to lows of $3,800 in an unprecedented movement, Bitcoin’s implied volatility has been consistently declining. This comes as BTC finds itself caught within a bout of sideways trading within the lower-$7,000 region, leading many analysts to anticipate that another large movement is imminent.
BITCOIN SEES DECLINING VOLATILITY; IS IT COILING UP FOR A BIG MOVEMENT?
At the time of writing, Bitcoin is trading down roughly 2% at its current price of $7,080, down slightly from daily highs of over $7,200. Throughout the past few weeks, BTC has established a unique trend in which it enters periods of consolidation before pushing higher, but it is a strong possibility that this trend of stable upwards momentum won’t last for too much longer. Read More...