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QCP: The US election week is approaching, and the short-term implied volatility of BTC and ETH remains high

QCP: The US election week is approaching, and the short-term implied volatility of BTC and ETH remains high

Bitget2024/11/02 09:34

QCP Capital released a weekend summary report, which pointed out that Thursday's core PCE data was slightly higher than expected, and Friday's non-farm employment data unexpectedly fell, causing the dollar index to rebound and recover the 104 level. The net inflow of BTC this week exceeded $2.1 billion. BlackRock's IBIT single-day net inflow reached $872 million, the largest single-day net inflow since its launch in January.
Despite Bitcoin falling below $69,000 on Friday, market interest remains strong with total open positions for BTC futures and BTC options maintaining high levels at $40.65 billion and $25.3 billion respectively. Although Trump is favored to become the next US president, betting rates on Trump have dropped significantly from Polymarket’s peak of 66% to 57% and 43%. In the upcoming election week, short-term implied volatility for BTC and ETH remains high (above 72 volatility units), as traders increase their efforts towards downside protection; hence bearish option skew continues to rise.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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