Bitcoin dips but options market holds steady
Stable open interest shows the options market remained relatively unfazed by Bitcoin's price drop.
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Bitcoin's breach of a lower Bollinger Band may suggest a market turnaround.
The sell-side risk ratio for short-term holders dropped to 0.05%, the second-lowest it has been since 2010.
Comparing the crypto-margined and cash-margined futures open interest reveals a discrepancy that has never been higher, indicating a growing preference for stability and risk mitigation in the market.
Disconcerting trend or progress? Lightning Network sees growing channels alongside falling capacity.
The current flat pattern observed in the hash ribbons reflects a market in a state of uncertainty, potentially awaiting a catalyst to move.
A sharp decline in Bitcoin futures is being countered by a booming options market, showing investors are taking a more strategic and risk-averse approach to trading Bitcoin.