According to BlockBeats, on November 4, Nick Forster, founder of Derive.xyz (formerly Lyra), analyzed that the forward volatility of BTC and ETH surged overnight. Bitcoin's volatility currently stands at 80.30%, up from the previous 72.20%, while Ethereum's volatility is now at 82.92%, higher than the previous 75.40%.
Nick Forster indicated that this increase reflects traders preparing for the election results, which could significantly impact market prices. There is a two-thirds chance of substantial price fluctuations on election night, with BTC's volatility range between -8.97% and +9.85%, and ETH's volatility range slightly larger, between -9.25% and +10.19%.
Forster further noted that the total open interest for BTC call options is 1,179 contracts, while the total open interest for put options is 885 contracts. This clearly shows that despite potential volatility, the market still leans towards a bullish outlook.
