glassnode: Bitcoin Option Defensive Positioning Unwinding, Put Hedging Demand Easing
BlockBeats News, July 24th, glassnode released Bitcoin options market data indicating that the Bitcoin put/call ratio dropped significantly from around 0.76 at the end of June to 0.52, suggesting a unwinding of defensive positions, while the BTC price remained stable around $67,000.
ATM (BlockBeats Note: At-The-Money refers to options with a strike price closest to the current underlying asset price.) implied volatility remains in a compressed state, with a 34.3% reading for 1 week maturity and 40.8% for 6 months, showing an upward sloping term structure, indicating that short-term event risks are being underestimated by the market.
Short-term 25-delta skew sharply fell to around 4%, reflecting reduced demand for downside hedges in the near term, but medium to long-term skew still holds at a defensive premium level of 11-12%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Saudi Arabia's oil production in October surged by 26%, reaching the highest level since the onset of the conflict, while Brent crude has dropped over 20% this month
OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.
Capri Holdings appoints Estée Lauder senior executive Justin Boxford as CEO
Total trading volume reaches $200 millions, @enter_elysium to launch on Monday
BUZZ - Rigetti Computing shares drop as third-quarter results miss expectations
Crypto prices
More
