Cryptocurrency Whales Are Betting on a Flat August for Bitcoin
CryptoNewsTerminal Staff19 Aug, 2024
Cryptocurrency Whales Are Betting on a Flat August for Bitcoin
After a period of quiet, large-scale trading of Bitcoin (BTC) options has resumed, with block trades exceeding $500 million in nominal value. According to the cryptocurrency options specialist analysis firm Greeks live, whales are primarily selling call options (bullish bets) and buying put options (bearish bets). This suggests that whales have low expectations for Bitcoin's price action in August, as implied volatility (IV) has fallen below 50%.