quick take
- The constant influx of disappointing news into the Bitcoin ecosystem continues to cast a shadow over the Bitcoin market, pushing the price even further into the red.
- This downward trajectory is underscored by the Option 25 Delta Skew (1 week), which shows that put options are not only trading at a premium, but are on track to reach their second-highest level this year. strengthens our bearish outlook.
- Bitcoin open interest, meanwhile, has been on an upward trend, with a hefty injection of around $450 million, mostly from exchanges like Binance and Bybit.
- Further volatility is likely as new liquidity is introduced into the market.
Signs suggesting a potential volatility spike after Bitcoin open interest surge first appeared on CryptoSlate.
