#BTC Bitcoin has dropped below the support area and is now testing it again. A break above this level will lead to upward movement in the market. Conversely, a rejection will push the price down towards the $64,000 area. $BTC
The 25-Delta Skew, which measures the premium for downside protection, spiked during the June selloff but has been steadily declining since.
👉 With crash protection demand easing and the skew now well below February's extreme, fear in the options market is fading, signaling improving confidence among traders. 📈 $BTC $ETH
Bitcoin has flipped the area and is slowly turning bearish. Price is building up liquidity at old lows; it could go lower and fill it up. Expect the price to drop to the support area around $59,500 - $60,000. $BTC #BTC