Greeks.live: BTC's Dominance in Options Markets Returns to 2021 Levels, Directly Related to ETH's Weakness

Bitget News, Greeks.live Macro Analyst Adam posted on the X platform, “With October's monthly expiration coming up, overall October has been less than expected, with neither the upcoming election nor the interest rate cut bringing much positive news or inflows to cryptocurrencies. The IV for the election week stayed at 55%, while earlier options were affected by the move to the next month and the IV was significantly lower, while there was also a significant increase in bulk options trading, with 40% of daily trades now coming from bulk. The dominance of BTC in the options market is now back to 2021 levels, which is directly related to the weakness of ETH, and options market indicators are now almost exclusively based on BTC data.