The main dishes to remember:
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The increased option option bonuses point out the careful feeling of the trader.
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US employment openings nearly five years, increasing fears of recession and the potential risks of economic slowdown.
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On Monday, $ 518 million flocked to the Bitcoin ETF, while public companies continue to accumulate, tightening the available supply.
Bitcoin (BTC) Pro Traders remains uncomfortable at the idea of keeping risks down despite recent gains at $ 114,000, because derivative markets show increased fear. Traders probably examine whether these measures reflect large concerns about global economic growth or feared specific to the cryptocurrency market.
The Bitcoin Skew metric hit 5% on Tuesday, but finally returned to 8%, signaling a higher bonus for put options (sale). Under neutral conditions, BTC bias generally varies between -6% and 6%. The unsuccessful attempt to recover $ 115,000 from frustrated merchants, especially since gold maintained its bullish momentum, exchanging only 0.6% below Tuesday.
Gold has increased by 16.7% in the past two months, while the US dollar index (DXY) has always struggled to recover the level of 98.5, reflecting lower confidence in the Budget situation of the United States government. A lower US dollar tends to slow down consumption as imports become more expensive, while reducing tax revenue from international profits from listed companies in the United States.
Investors fear that the US economy can be in danger after the labor market data continued to show weakness. The American Labor Statistics Bureau declared 7.23 million job opening in August, a level the lowest approaching in five years. “Federal complaints on unemployment insurance are about twice as high as last year,” economists from the Economic Policy Institute on Tuesday.
The S&P 500 has shown remarkable resilience in the middle of this uncertainty, because traders anticipate new interest rate drops in the American Federal Reserve (Fed) and additional liquidity injections. The total assets of the Fed balance sheet stabilized in September after 30 consecutive months of decline, signaling a potential reversal which could support the risky markets.
The slightest constraint in economic policies has a positive double impact on companies, because it reduces the cost of capital and reduces investor yields on fixed income instruments. Unlike Bitcoin, listed companies offer prospects through dividends, buyouts and opportunities via mergers and acquisitions, therefore does not fully depend on employment levels or broader economic growth.
Bitcoin options have remained stable, showing no increase in lower demand
Bitcoin merchants are not necessarily hinged, despite whales and market manufacturers reluctant to withdraw risks. It is useful to analyze the metric of the call to determine whether the demand for bastard neutral strategies has increased.
The bonuses paid for put options (sold) were lagging behind the call instruments (buy) on the drunkenness, indicating that the neutral flap strategies have been more requested. The sudden peak on Saturday is not representative, because the total premium paid that day was less than $ 13 million. Overall, the data shows no signs of stress or an increase in the demand for lowering positions.
The net entries of $ 518 million in the Bitcoin negotiated funds on the funded funds on the stock market (ETF) provide clear evidence on the request for independent coverage on Monday, not necessarily correlated with gold. Public companies such as Strategy (MSTR), Mara Holdings (Mara) and Metaplanet (MTPLF) continue to accumulate Bitcoin as a reserve strategy, potentially creating a supply shock.
In the end, the reduced appetite for lower risk exposure in Bitcoin options should be interpreted as a wider macroeconomic concern rather than lowering expectations.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.