Markets· ★★★· bearish·

Glassnode: Bitcoin options turn defensive while leveraged longs keep paying up

  • —25-delta options skew climbed from 5.2% to 8.6% in a week
  • —Long-side funding rose 49.4% to $1.6 million with OI at $36.4 billion
  • —Spot cumulative volume delta widened from -$67 million to -$83.6 million
  • —Implied-versus-realized volatility spread flipped from -3.8% to +2.1%
Why it matters: The split between defensive options and bullish leverage leaves Bitcoin exposed to a liquidation cascade if $80,000 breaks.
#BTC
Source: CryptoSlate
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