Bitcoin up 4% to $64,000 with the Maxpain point now at $62,000
The just released CPI data was quite well received. Despite the results being in line with expectations, the crypto market saw significant volatility, with Bitcoin up 4% to $64,000 with the Maxpain point now at $62,000, and moving some short-term sellers into the hedging zone.
The options market reacted significantly, with all major term IVs pulling up quickly to new highs for the month, with the recent flat market causing major term options IV to drop to new lows at one point this year, thus making them extremely cost effective for buyers, with every recent event driver worth buying options for.
ETH, on the other hand, is slightly weaker, with the ETH/BTC rate hitting another record low, and cross-currency options trading appears to be an opportunity.
The options market reacted significantly, with all major term IVs pulling up quickly to new highs for the month, with the recent flat market causing major term options IV to drop to new lows at one point this year, thus making them extremely cost effective for buyers, with every recent event driver worth buying options for.
ETH, on the other hand, is slightly weaker, with the ETH/BTC rate hitting another record low, and cross-currency options trading appears to be an opportunity.