Bitcoin price hits $32K but derivatives metrics still show signs of weakness

Bitcoin price hits $32K but derivatives metrics still show signs of weakness

Bitcoin price rallied 8.5% to recover the $32,000 level, but derivatives data shows pro traders still feel apprehensive. There's no doubt that the last couple of months have been bearish for Bitcoin (BTC), but throughout this entire period, derivatives indicators have been relatively neutral. This could be because cryptocurrencies have a strong track record of volatility, and even 55% corrections from all-time highs are expected.After two months of struggling to sustain the $30,000 support and finally losing it on July 20, the futures premium and options skew turned bearish. Even PlanB's....

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