In mid-January, Bitcoin’s rally shifted the one-week 25-day skew from bearish to neutral, with the put/call ratio declining to 0.4. This suggests stronger bullish trading, although long-term trends remain a concern.
The three-month 25-day skew has shown little change, emphasizing ongoing downside risk. Implied volatility during recent price increases did not follow typical breakout patterns, indicating that market confidence may be limited.
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