Bitcoin wise
And Ether traders register their defenses while the wider market continues to provide upward actions during the summer.
This is the message of a strategy based on the options called 25-Delta Risk reversal, which involves the simultaneous purchase of a sale option and a sale of a call, or vice versa.
At the time of writing the writing moment, the reversals of risks based on bitcoin and ether options classified by Déribit indicated that investors were positioning themselves for volatility down during the summer.
Risk reversals at 25 BTC delta for tenors in June, July and August were negative, indicating a preference for put options, which offer downward protection, calls or bullish bets, according to the source of Amberdata data. In the case of ETH, the points were more expensive at the end of the end of July.
Merchants generally buy put options to cover their long positions in the spactive and term markets, protecting themselves from potential prices.
“Risk reversals in the BTC and ETH continue to show a preference for downward protection in the tenors of June and September.
The nervousness is obvious from the paradigm of the over-the-counter liquidity platform, where the five main BTC exchanges for the week include a power propagation and a lower risk reversal. Meanwhile, in the case of ETH, a long position in the $ 2,450 crossed the ribbon next to a short exchange (volatility).
Bitcoin, the main cryptocurrency by market value, spent more than 40 days negotiated over $ 100,000, according to Coindesk data. According to analysts, taking profits by long -term holders and the sale of minors thwarted the high absorption of ETF Spot, leaving prices without management.
“Bitcoin has recently followed laterally, suggesting that its current price could be too high for many retail investors. The interest opened in BTC options has increased, with a positive and increased Delta Put-Call contract on 30-day contracts, which may involve that market participants are looking for a short-term protection through put options” Reportly report.
Friday, BTC closed (UTC) below the 50-day simple mobile average (SMA) to exchange below the key support for the first time since mid-April. Ventilation can lead to a larger sale focused on cards, which has led to a drop of less than $ 100,000.
Some observers, however, expect a rally of new records. According to the abbot case observer market, the volume of BTC balance continues to indicate high purchase pressure, which suggests that prices could reach $ 130,000 at $ 135,000 at the end of the third quarter.
