Bitcoin Deribit Index Hints Caution for BTC Price: Details
Main Idea
The Bitcoin Deribit Index is nearing historic lows, indicating potential caution for BTC price, but there are signs of possible volatility and key resistance levels to watch.
Key Points
1. Deribit's Bitcoin DVOL indicator has reached near-historic lows, with only 2.6% of days marking lower levels, suggesting increased risk of sudden volatility shocks.
2. Bitcoin's implied volatility ratio remains higher, with only 3.2% of days seeing higher values.
3. BTC was trading at $117,927 around press time, with key resistance levels at $127,000 (+1σ) and $144,000 (+2σ).
4. $342 million was liquidated across various digital assets in the last 24 hours as the crypto market extended its drop early Friday.
Description
Bitcoin Deribit index nears historic lows, but there's silver lining
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