BTC and ETH volatility hits 7-day low as options trading rises

Bitcoin (BTC) and Ethereum's (ETH) volatility dropped to a 7-day low as the market cooled this week, according to The Block. Between April 28 and 30, BTC's open interest rose by $1 billion, and ETH's by nearly $150 million. Sean Dawson, head of research at Derive.xyz, noted that traders are heavily buying call options, indicating bullish sentiment. However, he also pointed out that while many traders are betting on price increases, the broader market remains uncertain. Dawson predicts BTC and ETH will likely maintain current levels in May.