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Bitcoin options traders are increasingly hedged against downside risk, as evidenced by the recent shift in market sentiment. QCP Capital analysts noted that the volatility difference between Bitcoin call and put options has decreased by three volatility points in the last 24 hours.
“While spot prices remain muted, the options market paints a different picture. On July 26, volatility made an impressive 8-point rally and risk-reversal dropped 3 points, indicating caution on the downside, QCP Capital analysts reported.”
This increased caution in the options market stems from fears of selling pressure. Contributing factors include the US Government's transfer of Bitcoin to Coinbase and the defunct Mt. Gox exchange's creditors receive their long-awaited assets.
On Monday, approximately $4 million worth of Bitcoin from an address labeled “US Government. Ryan Farace Seized Funds” moved to Coinbase from an address labeled “Ryan Farace Seized Funds,” according to Arkham Intelligence. The US Government is now worth approximately $14.2 billion. He holds more than 213,000 Bitcoins worth.
Also, Mt. Gox creditors began receiving Bitcoin and Bitcoin Cash transfers on the Kraken crypto exchange. Previously on July 16 at Mt. 48,641 Bitcoins worth over $3 billion were transferred from Gox to Kraken.
Related News: <a href="https://en.bitcoinsistemi.com/mt-there-is-activity-in-gox-wallets-thousands-of-bitcoins-sent-to-an-unknown-address-here-are-the-details/" target="_blank" rel="noopener noreferrer nofollow">Mt. There is Activity in Gox Wallets! Thousands of Bitcoins Sent to an Unknown Address! Here are the Details</a>
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 Analysts at QCP Capital say the U.S. Government's selling pressure and Mt. Gox suggests that due to their distribution, “Bitcoin and Ethereum prices may remain low until they gain momentum heading into the elections.”
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However, CryptoQuant's data points to a positive signal. Many Mt. Gox creditor appears to prefer to hold on to its redistributed assets rather than sell them immediately.
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 “There has been a significant increase in Bitcoin withdrawals from Kraken after Mt. Gox creditors began receiving their redistributed assets,” CryptoQuant analysts said, adding that more than 5,000 Bitcoins were withdrawn in the last 24 hours.
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This trend of cryptocurrencies moving from exchanges to cold wallets indicates that creditors are preparing to hold their cryptocurrencies, which could alleviate some of the expected selling pressure in the market.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/qcp-capital-analysts-share-their-expectations-for-bitcoin-and-ethereum-until-the-us-presidential-election-here-are-the-details/" rel="noopener noreferrer nofollow">QCP Capital Analysts Share Their Expectations for Bitcoin and Ethereum Until the US Presidential Election! Here are the Details</a>

QCP Capital Analysts Share Their Expectations for Bitcoin and Ethereum Until the US Presidential Election! Here are the Details

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