By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin and ether, the two largest digital assets by market value, remain largely within their recent trading ranges two days after the $1.5 billion hack of Bybit, one of the top cryptocurrency exchanges.
Perpetual funding rates for both are positive, indicating a bias for long positions that benefit from price rises. Bitcoin options trading on Deribit show a bullish bias for call options across all time frames, while those tied to ether show a downside bias into March. The bias for ether puts, however, has been present since well before the hack.
Meanwhile, Volmex Finance’s 30-day bitcoin implied volatility index has dropped to an annualized 48.45%, the lowest since July, according to charting platform TradingView. Ether’s implied volatility has reversed the minor weekend spike from 67% to 70%.
The calm is a sign of market maturity, according to QCP Capital. “The price action…
