Greeks.Live researcher: BTC is currently in a spot bull market, gradually driving the derivatives bull market, and the current exuberant market sentiment can easily push prices higher

ChainCatcher message, Greeks.Live researcher Adam posted on social media that this week, there are only routine events such as speeches from some FOMC voting members and major central banks in the macroeconomic landscape, while the main crypto-related event is the ETH Denver 2024 main activities, with little driving force from events.

Currently, the spot buyers in the mainstream coin market are very strong, and it is worth noting that derivative data has started to become active this week, with market leverage levels gradually increasing. The strong spot bull market has boosted market sentiment, and there is a significant expectation for an upward surge, but the experience of sharp declines in bull markets also needs to be taken into account.

BTC is now in a spot bull market, gradually pushing the derivative bull market, with the implied volatility (IV) of major expiration options at its highest level in nearly a year. The current exuberant market sentiment can easily drive up prices, and the IV still has the potential to hit new highs.