Bitcoin (BTC) According to Glassnode's latest “Week On-chain” report, it hit a new all-time high on November 6th and is poised for further gains due to significant institutional and retail capital inflows and increased market volatility. It is said that it is.
This breakthrough surge comes amid monthly net capital inflows totaling $2.5 billion, with the Bitcoin market's realized cap, a key indicator of net capital investment, rising 3.8% over the past 30 days.
The realization ceiling is now at a record $656 billion, boosted by new capital entering the market.
Options to increase volatility
The options market is mirroring Bitcoin's upward momentum, with open interest levels close to an all-time high of $25.2 billion, just shy of the all-time high of $30.2 billion set in March.
Meanwhile, options trading volume also surged to $2.9 billion, reflecting investors' growing interest in Bitcoin's future price movements. The report said the nearly even split between put and call options suggests investors are preparing for both potential gains and downside risk.
The report also highlighted that the volatility risk premium (VRP) currently stands at 27.9%, indicating that traders expect significant price movements in the future. This rise in implied volatility for short-term Bitcoin options reflects the market bracing for a disruptive move, and the cryptocurrency industry could witness further price increases and price fluctuations in the coming days. It shows that.
ETF demand remains strong
Demand for Bitcoin-based ETFs, a key driver of capital inflows, showed mixed trends this week.
U.S.-listed Bitcoin ETFs saw outflows of nearly $658 million between November 4 and November 5, likely due to investor caution over potential post-election market volatility. However, more than $2.2 billion in inflows were recorded over the past week overall, indicating continued investor interest in these products as Bitcoin prices soar.
Meanwhile, ETFs saw significant volume on Nov. 6, with BlackRock's IBIT recording more than $1 billion in trading volume within the first 20 minutes of trading. Analysts believe this could be a sign that the strong inflows from the past week will continue in the coming days.
According to Glassnode, the new all-time high could attract more ETF investors, particularly those drawn to Bitcoin's strong upward momentum.
mentioned in this article
