Insights

Bitcoin options volume hits highest level in almost two years – U.S. banking failures sparking volatility

exchange68September 13, 2024

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Quick Take

Options volume is at its highest level in almost two years; the total volume (USD Value) traded in options contracts in the last 24 hours.
In BTC terms, this has surpassed over 100,000, or over $2.5 billion, in the past 24 hours.
Three U.S. banks have collapsed in the past week, injecting volatility into the marketplace — which could be a reason for investors to hedge in the options market.
As a result, options implied volatility has picked up massively, surpassing year-to-date highs at 78%.
This has also seen a spike in the VIX and Move index in traditional markets.

Options ATM Implied Volatility: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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