According to a chart released by Matrixport, as the U.S. presidential election approaches, market traders are showing increased anxiety. However, Bitcoin's 21-day Relative Strength Index (RSI) is currently at a neutral level of 56%, indicating that it is neither overbought nor oversold. A neutral RSI usually suggests that the risk premium is relatively low during market fluctuations, especially in the case of implied volatility decreasing after the election. The report notes that this contrasts with the bear market drop when the RSI reached 80% in March, and in July and August, when the RSI fell to 25%, Bitcoin saw a significant rebound. Given that the current RSI is in the neutral zone, Matrixport believes that selling Bitcoin volatility this week could be an attractive strategy.

PANews, November 4 - According to a chart released by Matrixport, as the U.S. presidential election approaches, market traders' anxiety is rising, but Bitcoin's 21-day Relative Strength Index (RSI) is currently at a neutral level of 56%, indicating that it is neither overbought nor oversold. A neutral RSI typically suggests that the risk premium is relatively low during market fluctuations, especially in the context of potential implied volatility decreasing after the election.

The report notes that this contrasts with the bear market decline when the RSI reached 80% in March, and in July and August, when the RSI fell to 25%, Bitcoin experienced a significant rebound. Given that the current RSI is in the neutral zone, Matrixport believes that selling Bitcoin volatility this week could be an attractive strategy.

Matrixport: Selling Bitcoin volatility this week may be an attractive strategy