Bitcoin is confined within a tight range within 10% of its one-year high, experiencing the lowest annualized 30-day volatility since 2020.
Market signals don't indicate an immediate decision from the SEC, but instead imply long-term volatility.forward volume curve does not show the market [is positioning] itself for a short-term ETF decision by the SEC," Luuk Strijers, chief commercial officer of Deribit, told The Block."We see quite some steepness of the curve longer term implying some expectations for volatility in the longer run but not in August.
"A break from the norm would be a welcome surprise but I’m not expecting it and I don’t see a lot of other people expecting it either," he told The Block.The research lead added that price-impacting conditions for bitcoin are significantly affected by the digital asset's main competitor, the U.S. dollar. A view echoed by Gordon Grant, head of trading at Genesis, whoThe Block the recent downgrade of U.S.
"Macroeconomic factors cannot be discounted and lower-than-expected inflation or a slowing pace of interest rate hikes, can have a positive effect on risk asset sentiment, thereby potentially influencing bitcoin's price trajectory," co-founder at Sei Labs Jeff Feng said. The world's largest digital asset by market capitalization traded flat over the past 24 hours, rising only 0.4% to $29,200 at 9:00 p.m. ET, according to© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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