2 weeks ago
Bitcoin BTC has mostly traded sideways since printing grounds highs supra $110,000 past week.
The nonaccomplishment of upward momentum is present accompanied by signs waning bullish sentiment among marketplace participants trading options tied to BlackRock's spot bitcoin exchange-traded money (ETF).
That's evident from the one-year put-call skew, which reflects however the marketplace prices successful volatility hazard for enactment options, offering downside extortion comparative to calls, representing bullish bets. Negative values correspond a bullish bias portion affirmative values suggest fears of downside.
IBIT's one-year skew has bounced to astir zero from the four-month debased of minus 3.8 2 weeks ago, according to data root Market Chameleon. In different words, IBIT options traders are nary longer chasing upside via options.
Perhaps they are expecting a pullback. Similar temper is evident successful Deribit-listed options wherever the short-term telephone skew has weakened, meaning calls expiring successful the adjacent 2 weeks are trading astatine par with puts, according to information root Amberdata.
Read more: Bitcoin's $95K-$105K Range successful Focus arsenic $10B BTC Options Expiry Looms
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