CandleFocus Increased demand and heightened volatility signal further upside for Bitcoin – Glassnode
2024-11-07
Author: Content Editor
Bitcoin has reached a new all-time high and is expected to continue rising due to increased institutional and retail investment and market volatility, according to Glassnode's latest report. Capital inflows over the past month have reached $2.5 billion, leading to a record-breaking Realized Cap of $656 billion. The options market has also seen a surge, with open interest levels nearing record highs and trading volume reaching $2.9 billion. The volatility risk premium is currently at 27.9%, indicating expectations of significant price swings. Bitcoin-based ETFs have experienced mixed trends, with outflows of $658 million but over $2.2 billion in inflows recorded over the past week. The achievement of a new all-time high could attract more ETF investors.
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