Summary
- Analysis suggests Bitcoin price could fluctuate by up to $5,000 after the White House's 'Virtual Asset Summit'.
- Jeff Anderson of STS Digital emphasized the unstable movements in the options market and the implied volatility spread ahead of the weekend.
- Anderson noted that expectations for high volatility could be exaggerated.
An analysis suggests that Bitcoin (BTC) prices could fluctuate by up to $5,000 following the 'Virtual Asset Summit' hosted by the White House.
CoinDesk reported this on the 6th, citing analysis from STS Digital, a virtual asset trading solutions company. Jeff Anderson, STS Digital's Asia regional representative, said in an interview with CoinDesk, "The options market is showing unstable movements ahead of this weekend," adding that "the implied volatility (IV) spread for (this week's) Friday and Saturday shows a difference of about 25 points overall." This means that Bitcoin price volatility could increase significantly immediately after the Virtual Asset Summit scheduled for the 7th (local time).
According to STS Digital, Bitcoin could rise or fall by up to about $5,000 immediately after the virtual asset summit. The price volatility for Ethereum (ETH) and Solana (SOL) is expected to be around $135 and $13 respectively. Anderson noted, "(However) expectations for high volatility are often exaggerated compared to actual results."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
