Crypto market volatility remained low ahead of the US presidential election as investors adopted a cautious, wait-and-see approach, according to the latest edition of the “Bitfinex Alpha” report.Bitcoin’s (BTC) implied volatility in the options market hovered around the low 40% range, reflecting restrained confidence in major price shifts and signaling cautious sentiment among traders.Despite this conservative outlook, the report projected a potential surge in volatility between Nov. 5 and Nov. 8, indicating the possibility of sharp price movements during election week. Without a clear directional trend, this shift may result in reactive trading rather than a decisive market movement.The report also suggested that recent corrections in Bitcoin and altcoin prices reflect underlying concerns. Additionally, the pending approval of options on spot Bitcoin exchange-traded funds (ETFs) adds to the market’s complexity and could serve as a catalyst for future movements.A sentiment shift tied to ETF news could drive adjustments in trading activity, particularly in Bitcoin, where open interest remains near record highs‘Alt season’ needs a catalystThe report highlighted that Bitcoin’s dominance reached a cycle high of 60.62%, driven by investor preference for established assets over altcoins.The altcoin market has seen a significant downturn since March, with tokens outside the top 10 losing 45% of their value, now collectively valued at $200 billion.With altcoin funding rates stabilizing and speculative interest remaining low, Bitfinex analysts suggested that altcoins may continue to underperform Bitcoin in the near term. This cooling of speculative enthusiasm suggests a subdued outlook for the broader crypto market, barring the emergence of a major catalyst.Bitfinex emphasized that Bitcoin may continue to outperform altcoins, especially in the absence of immediate positive drivers for smaller tokens.Mentioned in this article
Source link
Bitcoin (BTC) $ 104,283.00
Ethereum (ETH) $ 2,510.79
Tether (USDT) $ 1.00
XRP (XRP) $ 2.16
BNB (BNB) $ 656.27
Solana (SOL) $ 155.08
USDC (USDC) $ 0.999803
Dogecoin (DOGE) $ 0.189604
TRON (TRX) $ 0.267152
Cardano (ADA) $ 0.678426
Lido Staked Ether (STETH) $ 2,507.25
Wrapped Bitcoin (WBTC) $ 104,167.00
Hyperliquid (HYPE) $ 32.57
Sui (SUI) $ 3.24
Wrapped stETH (WSTETH) $ 3,019.71
Chainlink (LINK) $ 13.88
Avalanche (AVAX) $ 20.70
Stellar (XLM) $ 0.264339
Bitcoin Cash (BCH) $ 413.10
LEO Token (LEO) $ 8.69
Toncoin (TON) $ 3.17
Shiba Inu (SHIB) $ 0.000013
USDS (USDS) $ 0.999755
Hedera (HBAR) $ 0.166919
WETH (WETH) $ 2,509.18
Litecoin (LTC) $ 86.97
Wrapped eETH (WEETH) $ 2,680.45
Polkadot (DOT) $ 4.07
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
Monero (XMR) $ 321.80
Bitget Token (BGB) $ 4.70
Ethena USDe (USDE) $ 1.00
Pepe (PEPE) $ 0.000012
Pi Network (PI) $ 0.642875
Coinbase Wrapped BTC (CBBTC) $ 104,255.00
WhiteBIT Coin (WBT) $ 31.22
Dai (DAI) $ 0.999874
Bittensor (TAO) $ 425.80
Aave (AAVE) $ 241.19
Uniswap (UNI) $ 5.96
Ethena Staked USDe (SUSDE) $ 1.18
Cronos (CRO) $ 0.102802
OKB (OKB) $ 50.25
Aptos (APT) $ 4.76
NEAR Protocol (NEAR) $ 2.41
Jito Staked SOL (JITOSOL) $ 187.02
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Tokenize Xchange (TKX) $ 33.59
Internet Computer (ICP) $ 4.90
Ondo (ONDO) $ 0.826013