Bitcoin Price Volatility To Drop Shortly

According to the latest optimistic reports, it seems that the volatility of Bitcoin’s price is about to drop shortly. Check out the latest reports about this below.

The online publication Blockworks notes the fact that Bitcoin (BTC) might be less exciting when it comes to price action over the coming weeks, if the derivatives market is anything to go by.

Bitcoin options are flashing signs of decreasing volatility while sizable chunks of leverage have been pulled, according to Bitfinex analysts.

“Abundant leverage in bitcoin derivatives markets was a major contributor to volatility over the past week, per a Monday research note. Now that the leverage is gone, we could be in for sideways trading moving forward,” the same notes reveal.

Bitcoin is hovering around $28,000, down 5% over the past five days but practically even over the past month. At the moment of writing this article, BTC is trading in the red and the king coin is priced at $28,102.

Controversial BitMEX co-founder Arthur Hayes continues to predict that Bitcoin (BTC) will skyrocket to $1 million in price. He recently said that First Republic Bank wouldn’t likely be the last financial institution to collapse.

According to Hayes, another regional bank will likely face liquidity issues in the coming days as the Federal Reserve gears up to raise interest rates.

“Seems like the Fed still wants to hike 0.25% at its meeting this week. They still don’t get it, or maybe they do and are just hoping and praying the market is stupid. Doesn’t matter either way, a rate hike almost (guarantees) another non-(too-big-to-fail bank) will bite the dust this week.”

He continued and said this:

“(First Republic) has a loan book full of jumbo mortgages made to rich people at low rates that are now worth way less after interest rates rose. The next bank to maybe fail this week, I think, will have a loan book full of illiquid large CRE (commercial real estate) loans.”