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What Can We Expect in June for Bitcoin and Ethereum? Analysts Warn: “Stay Prepared!”
Analysts have noted that the implied volatility in Bitcoin and Ethereum options suggests that investors are anticipating a stable and calm market in June.
Author:
Elif Azra Güven
03.06.2024 – 20:06
Update:
1 day ago
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Ethereum has witnessed a significant surge in recent weeks following the SEC’s approval of spot ETH ETFs, reaching the $4,000 milestone.
While optimistic sentiments persist for ETH, which has been hovering around $3,800 lately, analysts emphasize that the implied volatility in Bitcoin and Ethereum options indicates investors’ anticipation of a stable and tranquil market in June.
In an interview with The Block, Deribit CEO Luuk Strijers stated:
“Based on the implied volatility of BTC and ETH options, investors project that the market will remain stable and calm in the coming weeks. Some investors purchase put options to prepare for a potential decline, while others acquire call options in anticipation of a rise. However, if spot ETH ETFs commence trading earlier than expected in June, the price of ETH will surge. Investors may find themselves unprepared for the early launch of ETFs and the subsequent rise in Ethereum.”
We Anticipate the Upward Trend in Ethereum to Persist!
QCP Capital analysts also pointed out that the data suggests a stagnant market, but an early approval of ETH ETFs could catch the market off guard.
Despite the data pointing to a stagnant market, analysts maintain their bullish outlook on Ethereum and stated:
“Bitcoin continues its upward trajectory despite negative headlines surrounding Mt. Gox and the DMM attack last week. Altcoins are also experiencing upward movements. This upward trend is likely to persist as the market awaits spot ETH ETFs to drive new demand. The options market certainly reflects this sentiment, as ETH volumes continue to trade 15% higher than BTC volumes. Another contributing factor to the ongoing uptrend is that some investors are increasing their long positions in other cryptocurrencies in anticipation of earlier approvals for spot ETH ETFs.”
*Please note that this article does not constitute investment advice.
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