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Bitcoin drops below $54K, stocks sell-off after new Covid variant emerges
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Deribit exchange is the absolute leader in the Bitcoin (BTC) options markets and on Nov. 24 the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.”
We've seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive.In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g
Bitcoin price appears to following a descending channel since Nov. 9, so a “bearish” signal might be a reflection of the 22% drop since the $69,000 all-time high.
The 25% delta skew compares call (buy) and put (sell) options side-by-side. It will turn
Read more on cointelegraph.comAbout this in other media
Here’s how the new Covid variant is turning Bitcoin into a traditional asset ambcrypto.com /3 years ago
'Omicron' cryptocurrency shoots up by 900% after WHO gives new COVID variant same name moneycontrol.com /3 years ago
Obscure Omicron token spikes 900% after new variant emerges cointelegraph.com /3 years ago
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