BlockBeats News, November 4th, according to Derive.xyz (formerly known as Lyra) founder Nick Forster's analysis, the overnight forward volatility of BTC and ETH surged. Bitcoin's volatility is currently at 80.30%, higher than the previous 72.20%, and Ethereum's volatility is currently at 82.92%, higher than the previous 75.40%. Nick Forster stated that this surge reflects traders preparing for the election results, which could greatly impact market prices. There is a two-thirds chance of significant price swings on election night, with BTC ranging from -8.97% to +9.85% and ETH slightly wider at -9.25% to +10.19%. Nick Forster further added that the total open interest for bullish options on BTC is 1,179 contracts, while for bearish options, it is 885 contracts. This clearly indicates that despite potential volatility, the market is still biased towards bullish sentiment.