The latest report QCP Capital’s options data shows a drop in volatility in the trading market, particularly Bitcoin. Cryptocurrency traders may be looking forward to a more relaxed summer.
Research firm that is known to spot new trends in markets, says that data patterns on the charts indicate that trading will be more limited for the time being.
The market has yet to recover from its recent lows and highs. consigning traders in limbo It is difficult to understand the situation. next big play.
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Ethereum Markets Will Be Active This Summer, Despite the Anticipated Lull
Ethereum’s implied volatility is significantly higher than Bitcoin. It is possible that the overall market could slow down, but Ethereum trade could continue to grow.
QCP Capital, in their report, advised investors to consider accumulation strategies, especially for Ethereum, as preparation for what they termed “the long, quiet summer.” The approach is beneficial as long as the market continues to maintain its low predicted volatility.
Also, the analysts do not anticipate any notable price movement for Ethereum in July. Their expectations are aligned with those set for the possible approval of spot Ethereum Exchange-traded Funds in the later part of the summer.
A buzz is being created by the rumours surrounding an Ethereum ETF. Traders are looking to the future. S-1 Form approval Ethereum may see an increase in activity.
Ethereum’s implied volatilty is currently 10 vols higher than Bitcoin. QCP analysts predict that this premium will narrow once the market starts to factor in the expected US spot ETF approval.
While the summer may be quieter than usual, it is possible that there will still be some activities. critical developments This could have an impact on the market in the second half of the season.
Bitcoin & ETH Market Performance And Sentiment
Bitcoin and Ethereum are showing a positive trend in recent performance. noticeable declines. Following a period of bullishness triggered by SEC approval last month for spot Ethereum ETFs, cryptocurrency markets have been closely mirroring each other during market declines.
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Ethereum’s price has dropped by 8.5% in the last week. In the 24 hours since then, it is down 1.4%. Bitcoin’s price has also dropped by 1.4% today. It continues a downtrend of a few weeks that saw its value fall below $66,000.
Bitcoin Maximalist Samson Mow has a fascinating statement to make in view of these fluctuations. predictions about possible market movements. According to Mow, the likelihood of Bitcoin experiencing a significant price surge—or what he refers to as an “Omega candle”—is increasing as market pressure builds up.
You can also find out more about the following: #Bitcoin The coil has been compressed to a great extent. It is more likely to be an Omega the longer it takes us without a Godzilla Candle.
— Samson Mow (@Excellion) June 13, 2024
Chart created by TradingView, DALL-E.
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Source: www.newsbtc.com