Bitcoin’s Implied Volatility Craters as Traders Eye Technical Weakness

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Bitcoin’s implied volatility has been caught within a consistent downtrend throughout the past several weeks This comes as global instability mounts and as BTC’s mining rewards halving fast approaches Following the massive volatility seen in mid-March when the cryptocurrency declined from roughly $8,000 to lows of $3,800 in an unprecedented movement, Bitcoin’s implied volatility has been consistently declining. This comes as BTC finds itself caught within a bout of sideways trading within the lower-$7,000 region, leading many analysts to anticipate that another large movement is imminent. Bitcoin Sees Declining Volatility; Is It Coiling Up for a Big Movement? At the time of writing, Bitcoin is trading down roughly 2% at its current price of $7,080, down slightly from daily highs of over $7,200. Throughout the past few weeks, BTC has established a unique trend in which it enters periods of consolidation before pushing higher, but it is a strong possibility…

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