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The SEC fake account drama caused significant volatility in the cryptocurrency market, with Bitcoin prices hitting a 19-month high of $47,900 before falling back to $45,100. Fake news from the hacked SEC Twitter account led to a massive sell-off as investors quickly reduced their leverage and positions, anticipating the ETF’s impact on Bitcoin prices. Despite expectations of an ETF announcement on Wednesday between 4:00 p.m. and 5:00 p.m. ET, with listing scheduled for Thursday, approval is still uncertain. Volatility has driven up the RV (Realized Volatility). Nonetheless, this caused a slight drop in IV (implied volatility), as the ETF has already been trading for over a month and many investors have bet on it, resulting in a high IV in the short term.
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