#BinanceTurns8 🌴🌄🏝️The summer brake arrives at the Bitcoin options market, according to Glassnode.✨✨✨✨
$BTC 🏝️✨
#BreakoutTradingStrategy The summer calm also seems to be affecting the Bitcoin options market, with a noticeable slowdown in trader activity. Traditionally, this market is one of the most closely followed barometers to measure investor sentiment in the cryptocurrency world. What does the current slowdown in activity mean?
According to a publication by Glassnode, the implied volatility across all expiration dates, from one week to six months, is approaching historical lows. This situation is particularly interesting given that the price of Bitcoin continues to hover around its all-time highs.
According to data from CoinMarketCap, the most important of the virtual currencies by market capitalization is priced at $108,513 per coin at the time of writing this note. This creates a stark contrast between the slowdown in activity among options traders and spot investors.
Historically, periods of low volatility precede significant price movements. However, the current summer calm suggests a phase of consolidation and perhaps uncertainty in the short term. The current levels of volatility are the lowest recorded since mid-2023, indicating that the options market is pricing in very little future variation in the price of Bitcoin.