Bears scattered as Bitcoin hit $40K, but pro traders remain cautious
Bitcoin's rally to $40,000 alleviated some of the bearish sentiment in the market, but data shows derivatives traders still walking on eggshells. Bitcoin (BTC) traders might be feeling extra euphoric after the recent 35% rally, but data suggests bears are not too worried because a similar breakout took place in mid-July and the price failed to hold the $40,000 support.To understand how bullish investors are this time around, let's take apart the derivatives data and look at the futures contracts premium and options skew. Typically, these indicators reveal how professional traders are....
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