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Crypto
Bitcoin $500,000 outlook resurfaces as investors weigh feasibility
A forecast that bitcoin could reach $500,000 by 2028 has resurfaced. Cole Kennelly, founder and CEO of Volmex Labs, projected bitcoin could surge to $500,000 within two years. That would require a sixfold, 540 percent rise from about $84,269. The call drew attention because Volmex focuses on volatility metrics, including an implied volatility index used to gauge expectations. Similar $500,000 projections have appeared before, with target dates repeatedly delayed.
Crypto
Bitcoin spot trading volume hits lowest since October 2023, volatility fears grow on thinner liquidity
Bitcoin spot trading volume has fallen below $8 billion, its lowest since October 2023, even as expectations for further price gains rise. Glassnode data showed daily turnover has slid steadily since topping $25 billion in early February. Glassnode warned low volume can coincide with reduced market depth, making prices more sensitive to large orders. Options markets have not fully priced in higher volatility, with BVIV falling below 42 percent.
Crypto
Bitcoin options market shifts as BlackRock\'s IBIT overtakes Deribit in size
BlackRock\'s spot bitcoin ETF, iShares Bitcoin Trust (IBIT), has surpassed Deribit in bitcoin options open interest on Nasdaq. Data compiled by Volmex showed IBIT options open interest at $27.61 billion on April 25, versus $26.9 billion for Deribit. The shift reflects growing demand for bitcoin investment and hedging in U.S. regulated markets, alongside differences in positioning, implied volatility and preferred expiries between the two venues.