According to TechFlow, on July 24, QCP Capital analysts said that the sentiment in the Bitcoin options market has changed in the past 24 hours, and traders are cautious about further downside. The analysis pointed out that the difference in implied volatility between Bitcoin call options and put options has decreased by 3 points, reflecting the market's vigilance against downside risks. Although spot prices remain stable, the options market shows different signals and is expected to face more selling pressure in the coming period.
In addition, the U.S. government recently transferred nearly $4 million in Bitcoin to Coinbase, and Mt. Gox creditors have begun receiving transfers in Bitcoin and Bitcoin Cash on the Kraken platform. Analysts believe that due to the impact of these selling pressures, the prices of Bitcoin and Ethereum may remain sluggish in the short term until market momentum resumes before the election.
Data from CryptoQuant shows that as Mt. Gox creditors began to receive assets, the amount of Bitcoin withdrawn from Kraken increased significantly, which analysts believe may be a positive sign that creditors prefer to hold these Bitcoins rather than sell them. .
