Data tracked by Amberdataio show DeribitExchange's forward-looking $ETH implied volatility index (ETH DVOL) fell to lifetime lows over the weekend. Reports godbole17.
is over. If that's not enough, the U.S. inflation data for April – a market-moving figure – will be released later this week.
"The world seems full of unknown, unknowns, right now," Greg Magadini, director of derivatives at Amberdata, said in a weekly newsletter, noting the unusually low ETH and BTC DVOL indices. In other words, expectations for wild price swings appear underpriced major cryptocurrencies right now. According to Magadini, volatility expectations in the ether market are more underpriced than in the bitcoin market, and now may be the time to"go long ETH volatility [buy ETH volatility]."BTC-DVOL, relative vol. is basically near an all-time low," Magadini noted.
"A risk-off CRASH would likely hurt ETH spot prices a lot due to its 'Altcoin' nature. But on the flip side, if we're really, truly resuming a crypto bull market, then altcoins should outperform. ETH should out-rally BTC in that"traditional" crypto bull scenario," Magadini added.
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