Ether and bitcoin derivatives traders are losing confidence in the potential for higher prices, analyst says

Reduced implied volatility of ether and bitcoin at-the-money options signals diminished confidence in the potential for higher prices, according to an analyst.

"The plummeting implied volatility is astonishing" according to cryptocurrency derivatives trader Gordon Grant. He told The Block the multi-week IV drop is consistent with a decline in realized volatility as well.Grant added that derivatives traders who have been selling options contracts, both before and after the recent halving event, have given up on expecting bitcoin prices to rise further.

The cryptocurrency derivatives trader pointed out how the market went from seeing December 2024 bitcoin calls at a strike-price of $100,000 as a 50% delta instrument, to now considering call options with a strike price of $75,000 to have the same level of sensitivity .

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