Bitcoin Restrained, Derivatives Miss Adoption Hype
Bitcoin remained limited around the psychological level of US$80,000 on Thursday (May 14th) despite a steady stream of news indicating digital assets are increasingly entering the mainstream, ranging from discussions on draft crypto regulations in Washington to the expansion of tokenization initiatives by major financial institutions. Bitcoin was at US$81,467, up 2.98% from its previous close.
The lack of price response is considered more a reflection of a shift in investor optimism. A more telling signal came from the derivatives market, where short-term Bitcoin options were trading with implied volatility near the lowest level this year (based on Block Scholes's observations in the narrative), indicating the market has not yet seen a strong enough near-term catalyst to drive a breakout or sell-off.
The market also appears to be placing greater risk of political events on crypto-related stocks than on Bitcoin itself. This narrative is consistent with the observation that options contracts on certain crypto issuers exhibit a more pronounced volatility premium, while Bitcoin tends to be treated as a “structure-backed” asset but is not a primary vehicle for event-driven positions.
On the support side, inflows into Bitcoin ETFs remain a buffer, while supply dynamics are seen gradually tightening due to long-term holder accumulation and more limited miner selling—but the effects tend to operate over a horizon of months, not days.
Other cryptos also rallied on the same update: Ether at US$2,305 (+2.37%), BNB at US$681.56 (+1.84%), Cardano at US$0.271 (+2.57%), while Solana was around US$93.28, XRP around US$1.47, and Dogecoin around US$0.1156. (Arl)
Source: Newsmaker.id
