Quick Take
Options volume is at its highest level in almost two years; the total volume (USD Value) traded in options contracts in the last 24 hours. In BTC terms, this has surpassed over 100,000, or over $2.5 billion, in the past 24 hours. Three U.S. banks have collapsed in the past week, injecting volatility into the marketplace — which could be a reason for investors to hedge in the options market. As a result, options implied volatility has picked up massively, surpassing year-to-date highs at 78%. This has also seen a spike in the VIX and Move index in traditional markets.
Options Volume: (Source: Glassnode)
Options ATM Implied Volatility: (Source: Glassnode)
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