Bitcoin (BTC) has gained over 40% in 4 weeks and is simply 10% wanting difficult its report excessive close to $69,000. The surge is in keeping with the cryptocurrency’s report of rallying forward of and after the quadrennial mining reward halving. That mentioned, bitcoin call-put skews, which measure the price of name choices relative to places over completely different maturities, counsel buyers’ bullish expectations have materialized too quickly. Information tracked by Amberdata present longer-duration call-put skews now not exhibit a stronger name bias than short-duration skews and each have converged at round 5.5%. “This may be due to the heightened speculative sentiment among investors, which has led to a decrease in demand for far-month options. But we cannot rule out another possibility: As prices rise, investors’ expectations are realized ahead of schedule, and they are relatively cautious about the possibility of further sharp rises,” crypto monetary platform BloFin mentioned on X.
