CandleFocus Bitcoin Set for $6K-$8K Seesaw as U.S. Elections Enters Final Stretch: Analyst
2024-11-04
Author: Content Editor
Crypto traders are expecting increased price volatility in Bitcoin (BTC) and Ethereum (ETH) due to the upcoming U.S. presidential election. Derivatives experts suggest that the election could trigger price swings in BTC ranging from $6,000 to $8,000, similar to the movements seen in August. The projection is based on options trading data showing an annualized forward volatility of 112%, implying a price fluctuation of $4,000 in either direction. DEX traders also anticipate greater volatility in ETH, with a 68% chance of a 9.35% to 10.19% price swing. Traders are positioning themselves for bullish volatility, with call options trading at higher prices than puts.
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