Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Crypto traders are preparing for potential price drop Bitcoin (BTC) and Ethereum (ETH) This August, with options with data from derive.xyz showing a clear tilt to the bear location.
Bitcoin Bear Sentiment
According to shared data with CryptoslateAn open interest in bitcoin options with an expiry date of 29. August is almost five times higher than the call options.
Investors usually buy call options when they expect the price of assets to increase. On the contrary, they buy options when they expect a decrease in the asset value.
In particular, about 50% of Put derive’s activity is concentrated around a strike of $ 95,000, while another 25% are divided between $ 80,000 and $ 100,000.
Another confirmation comes from data from DerivativesThe leading centralized derivative exchange, where the strike prices of $ 110,000 and $ 95,000 are at an open interest of over $ 2.8 billion.
This suggests that traders are increasingly betting on a step below the six -seater mark.
In addition, the chamfer options, measures comparing the costs of calling, have shifted from +2% to -2% in the past month, reflecting the increasing appetite to protect the disadvantage.
This sentiment shift is in line with probability models that build 18% chance to revise $ 100,000 by the end of the month.
Ethereum volatility rises
Ethereum also experiences an increase in bear sentiment, albeit to a lesser extent than bitcoins.
DERIVE DATA shows that to expire 29. August indicate the options to exceed calling by a little over 10%.
The highest concentration of PUT is around $ 3,200, $ 3,000 and $ 2,200, suggesting that traders solidify anything from a slight decline to significant drop in Ethereum.
In addition, an ETH 30 -day chammaker dropped from +6% to -2%, indicating a similar formula of increasing interest in the protection of the disadvantage.
Meanwhile, Ethereum’s monthly volatility remains higher, with expected volatility 65%, compared to 35%bitcoin. This suggests that the Ethereum could experience a busy ride in the coming weeks than bitcoins.
Given this, crypto traders on Dereive gave 25% chance this month that ETH will drop below $ 3,000. However, with recent price rebounds is the probability of closing over $ 4,000 doubled to 30% in the last week.
