Institutional Bitcoin Bets Blend Upside Calls With Persistent Downside Hedges
Institutional investors are maintaining a hedge against losses while betting on Bitcoin's growth. Options skew remains negative across all time frames, indicating a lingering bias for put options. According to STS Digital CEO Maxime Seiler, institutions are buying downside protection and selling upside calls. This combination of buying put options for downside protection and call options betting on Bitcoin hitting $80,000 has left the price stalled at $72,000.
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