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Crypto market could face more volatility as VIX hits highest level since COVID-19 market panic, Abra analyst says

Aug 5, 2024

The Block has featured insights from Bohan Jiang, Abra’s Head of OTC Options Trading, on the sharp increase in crypto market volatility as the VIX reached its highest level since the COVID-19 market panic. Jiang noted that traders were caught off guard by the downturn, as bullish sentiment around Trump’s Bitcoin speech and the launch of Ethereum spot ETFs had led to aggressive positioning in call options rather than downside protection. With macroeconomic uncertainty driving market turbulence, Abra continues to monitor evolving conditions, emphasizing the importance of risk management in digital asset trading.

Full article available here.

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