Analyst Reveals Bitcoin and Ethereum Expectations, Warns: "These Levels Could Be Tested Again by the End of September!"

Despite the mild statements from Fed Chair Jerome Powell, Bitcoin and altcoins experienced a sharp ￰0￱ has fallen to around $110,000, dragging down the overall cryptocurrency market as forced liquidations, along with increased short-term volatility ahead of key ￰1￱ data this week, have also weighed on the cryptocurrency ￰2￱ this point, Bitcoin fell to a seven-week low due to strong downward market pressure from the liquidation of large leveraged positions, while Ethereum fell to $4,300. Speaking to The Block, Deribit head of research Sean Dawson said it had been a bloody start to the new ￰3￱ this point, the analyst argued that BTC is likely to retest $100,000 by the end of September, while ETH is likely to retest $4,000.

According to Dawson, the recent correction has caused an increase in volatility, with BTC’s daily implied volatility rising from 15% to 38% and ETH’s from 41% to 70%. Dawson attributed the sudden surge in volatility to investors rushing to hedge ahead of the release of second-quarter US GDP and employment ￰4￱ also noted that the volatility in options markets reflects investors' cautious ￰5￱ on the data, the analyst noted that the 25-delta slope in the options market has turned negative for both assets, indicating increased demand for put ￰6￱ reflects a short-term bearish ￰7￱ this point, Dawson predicted that BTC is likely to retest $100,000 by the end of September, while ETH is likely to retest $4,000.

“The data shows us that options traders prefer put options over call ￰8￱ is the strongest downside protection demand we've seen in the last two weeks, with investors appearing to be preparing for a potential retest of the $4,000 levels for ETH and $100,000 for BTC by the end of September. *This is not investment ￰9￱ Reading: Analyst Reveals Bitcoin and Ethereum Expectations, Warns: "These Levels Could Be Tested Again by the End of September!"