The market is extremely divergent
BTC pulled back as expected, compared to the very strong support for ETH's price, with ETH's current weekly weighted IV still exceeding 100%, while BTC's current weekly IV is only 50%.
The primary reason for this rare phenomenon is of course the uncertainty of the approval of the ETH ETFs. In the last two days there have been so many of these mega short-term spreads and calendar spreads that shows the market is extremely divergent. Judging by the structure of the market's positions and the current IV structure, the current level of divergence has already exceeded that during the period of the ETH to Pos.
So it is the man made policies that are the biggest uncertainty, Long Crypto!
The primary reason for this rare phenomenon is of course the uncertainty of the approval of the ETH ETFs. In the last two days there have been so many of these mega short-term spreads and calendar spreads that shows the market is extremely divergent. Judging by the structure of the market's positions and the current IV structure, the current level of divergence has already exceeded that during the period of the ETH to Pos.
So it is the man made policies that are the biggest uncertainty, Long Crypto!
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