Analyst: Anticipates a ±9% BTC Volatility on Election Night, but Market Still Bullish

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.