BlockBeats news, Matrixport's icon analysis released on November 4 shows that as the U.S. presidential election approaches, market traders' anxiety is rising, but Bitcoin remains in a neutral zone. Currently, Bitcoin's 21-day Relative Strength Index (RSI) is at 56%, well below the overbought threshold of 70%, indicating that Bitcoin is neither overbought nor oversold.

A neutral RSI typically means that traders are less impacted by market fluctuations, suggesting that Bitcoin's risk premium (including high implied volatility) may decrease after the election. Compared to the bear market drop when the RSI reached 80% in March, the current market conditions appear more stable.

In light of this situation, selling volatility this week may be an attractive strategy.