- Greeks Live analysts point to low projected volatility in the bitcoin market. The Deribit index confirms this.
- The Glassnode report echoes this forecast. In it, experts said there was little selling pressure and HODL sentiment prevailed.
Analytics platform Greeks Live has published the current value of Deribit Options Exchange Bitcoin Volatility Index (DVOL). It serves as a kind of indicator of price turbulence in the segment, the organization said.
The indicator for both bitcoin and ether has declined to a level of 37%. This is a new low for the past two years:
ETH Volatility Index
The implied volatility (IV) index, which is predicted by the DVOL algorithm, in turn hit a level of 37.3%. This is a new all-time historic low.
The DVOL algorithm provides insight into price fluctuations over the next month by analyzing options, Cointelegraph clarified.
Another support for this prediction, according to Greeks Live, is continued low liquidity. The agency said the current market is effectively “dead” and no significant price trend movement should be expected.
The Glassnode report also echoed this point. It said long-term holders control 75% of the circulating supply of bitcoins.
Remember, the asset’s exchange rate fell to a level of $29,000. Experts predict a further downward correction given the possible tightening of policy by the US Federal Reserve (Fed). While there is a lull in the bitcoin market, altcoins are experiencing a significant surge. XRP topped the rankings for trading volume in 2023, with the asset’s exchange rate up 52% since mid-June.
It will be interesting