Bitcoin Vol Collapses as Ether begins to climb

In this week's Crypto Insight I discussed...


Some interesting on-chain data that showed signs of capitulation among miners and investors in the recent selloff down to 29k.


BTC implied vols have collapsed in line with short term realised as we remain locked in a tightening range from 32k to 36k.


ETH has begun outperforming as we had predicted after hitting key support in the ETH/BTC cross rate.


Skew remains bid for puts in the short term as the market still sees a risk of a break lower that could trigger extreme volatility. Until we break above 45k this skew will likely remain for short term protection. Also supporting skew was the fact that post June expiry, investors were able to sell more July calls to earn some income and this was reflected in the vol term structure falling swiftly back into contango.


Filmed on on Tuesday 6th July 2021.


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