๐ค๐๐ฃ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ผ๐น๐ผ๐๐ฟ - ๐ฏ๐ฟ๐ฑ ๐๐๐ป๐ฒ:
1/ BTC Implied Volatilities have been coming off steadily since it peaked the weekend before and is looking to move towards levels we saw at the start of May
1/ BTC Implied Volatilities have been coming off steadily since it peaked the weekend before and is looking to move towards levels we saw at the start of May
2/ We are still cautious of potential BTC downside as the vol skew remains high with Puts being substantially more expensive than Calls
3/ We expect spot to trade in a range (short-term) with a slight bullish bias as frenzied leveraged longs have been washed out. Weโve seen significant buying & selling at 30,000 BTCUSD and 40,000 BTCUSD levels respectively
4/ We reckon that downside vols are a decent sell. Relatively expensive with the put skew, and also expecting implied vols to move lower if BTC continues to trade in a range.
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