Fast Take
- The incessant inflow of disheartening information into the Bitcoin ecosystem continues to forged a shadow over the Bitcoin market, pushing its value additional into the pink.
- This downward trajectory is underscored by the choices 25 delta skew (1-week), indicating that put choices usually are not solely buying and selling at a premium however are additionally on target to achieve their second-highest stage this yr, thereby reinforcing our bearish outlook
- In the meantime, Bitcoin’s open curiosity is on an upward climb, with a big injection of roughly $450 million, primarily sourced from exchanges resembling Binance and Bybit.
- The introduction of latest liquidity to the market will doubtless stoke additional volatility.
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