“Bitcoin’s Price Fell To Its 50-Day Simple MOVING AVERAGE, WHILE OIL PRICES SURGED DUE TO Geoplitical Tensions.”, – WRITE: www.coindesk.com
Hort-Term Options Skew Crashed During the Early Asian Hours as Traders Sounga Downside Protection Amid Escalating Tensions in The Middle East, Which Trigger
The Seven-Day Skew, Whosh MeASures of the Relative Richness of Deribit-Listed BTC Calls to Puts, Slid to -3.84%, The Lowest Since April 16, Access to Data Suurce. In Other Words, Put Offices Offering Downside Protection Became The MOST Expensive Relative to Calls in Three Months. The Demand for Put Also Pushed The 30-Day and 60-Day Skews Into the Negative Territory.
Traders Typical Buy Put Options WHEN SEEKING TO HEDGE THEIR Long Positions in The Spot or Futures Market, or to Profit from An Expectioned Price Deckline.
Bitcoin’s Price Fell To Its 50-Day Simple MOVING AVERAGE (SMA) AT $ 103,150, Extending 24-Hour Losses to 4.59%, Accounting To Coindesk Data. Prices Briefly Topped The $ 110,000 Mark Early This Week. The Bulls Might Be Hoping for the 50-Day SMA to HOLD, AS A PETENTIAL DECLINE BLOW IT COUKLD Entice More Sellers, As Observed After The Support Broke Down in February.
BTC’s 7-Day Options Skew. (Deribit/Ambrdata)
The per-Barrel Price of WTI Crude Surred Over 6% to $ 74.30 per Barrel, Reaching The Highest Since Feb 3, and Extending the Weekly Gain to 13%, accounting to Data. The Move Happy After Israel Conduched Aircrakes on Iran, Suppedly Drawing retaliatory Missile Action from Tehran.
Inflationary ImpulseSudden Oil Price Spikes Tend to Generate An Inflationary Impulse Worldwide and the Latest One Could do so while president donald Trumb’s Net-IIPORTER COUNTRES.
All of this could dent expectations for fed rate cuts, adding to downside volatility in stocks and cryptocurrencies. As of Writing, Futures Tied to The S&P 500 Traded 1.5% Lower On the Day.
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