According to Odaily, an analysis of the Chicago Mercantile Exchange (CME) Bitcoin futures and options by CF Benchmarks reveals that despite a weak US CPI inflation report yesterday, investors are prepared to pay a premium for short-term downside protection. They anticipate a short-term price adjustment for Bitcoin.
The CF Benchmark analysts noted that even though Bitcoin broke the $66,000 mark yesterday, the implied volatility of out-of-the-money put options remains higher compared to call options. Furthermore, the volatility curve between long-term put and call options is relatively flat, with a slight skew towards call options. This suggests that investors are more optimistic about the long-term prospects of Bitcoin.
