BTC and ETH Rebound in V-Shaped Recovery Despite SEC Complaint

BTC and ETH, the two leading cryptocurrencies, experience a V-shaped reversal, nullifying negative impact of SEC complaint. Surge in options volume reflects market resilience.

The V-reverse market movement triggers surge in options volume, particularly notable in ETH market. Daily options volume up 400%, reflecting increased market activity and renewed investor confidence. Short-term implied volatility (IV) slightly increases.

BTC and ETH saw a V-shaped reversal of price spikes today, wiping out the negative impact of yesterday’s SEC complaint.
The V-reverse market drove options volume sharply higher, with daily volume up over 400%, while short-term IV rose slightly.
Of particular interest was the 290k… pic.twitter.com/TAiWOoISkb

— Greeks.live (@GreeksLive) June 7, 2023

Notable ETH block calls traded, total 290k ETH, accounting for 57% of day’s options volume. Notional value $540 million, primarily consisting of nearly 100,000 sets of calendar spreads. Whale Bid’s strike price lower compared to previous month.

Whale Bid’s assessment indicates cautious market outlook. Recovery significant, but challenges remain in surpassing $2,000 mark. Cautious sentiment highlights need for continued monitoring of market dynamics and regulatory developments.

Surge in options volume and V-shaped recovery demonstrate resilience and adaptability of crypto market. Despite challenges and volatility, participants engage in options trading, navigate evolving landscape. Reflects maturation of crypto derivatives market and interest from institutional and retail investors.

BTC and ETH markets continue to evolve, participants monitor price movements, options volume, regulatory developments. V-shaped recovery reflects market’s ability to overcome challenges, reinforce long-term potential of digital assets despite SEC complaint.

Source