Noticed something interesting in the options market right now. Even though Bitcoin's bouncing back from the lows, there's still this weird premium hanging around in the options - like traders are still hedging for another drop. Kind of tells you people are still nervous even when price recovers.



The panic selling probably left some scars. You see this a lot after sharp moves down - the options market stays defensive longer than spot price. Puts are still pricing in risk that maybe isn't there anymore.

Could be a sign that we're not quite at peak confidence yet, or it could just be smart money locking in protection before the next move. Either way, watching that options premium is probably more useful than just looking at the price chart alone.
BTC0.69%
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