PANews, December 3—According to observations by Gate Research Institute, the crypto market maintained a volatile pattern this week under the dual impact of macro factors and sentiment fluctuations. The expectation of a rate hike by the Bank of Japan and ongoing uncertainty regarding Fed policy continued to ferment, with the probability of a rate cut in December currently at 89.2%. BTC rebounded to around $93,000 on Wednesday, showing a clear short-term recovery. Technically, downside support remains resilient, and the overall market is in a news-driven range-bound phase.
This week, implied volatility in the options market declined compared to last week, with BTC and ETH IV at 48.6% and 70% respectively. The 25-Delta Skew for both BTC and ETH steepened rapidly over the weekend, indicating spreading market panic and defensive sentiment. BTC’s volatility risk premium turned positive from negative and hovered near the zero axis. The largest block trade in aggregate size was buying BTC-51225-75000-P, with a total volume of about 1,200 BTC and a premium expenditure of about $270,000; and buying ETH-51225-3100-C, with a total volume of about 25,000 ETH and a premium expenditure of about $340,000.
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