BlockBeats News, on August 20, according to Deribit data, the 30-day options Delta skew (put-call) for Bitcoin surged to 12%, reaching its highest level in over four months. Under neutral conditions, this indicator typically fluctuates between -6% and +6%, reflecting the balanced pricing of call (buy) and put (sell) options. Levels above 10% indicate extreme fear in the market, although such situations rarely persist.
Previously, the aforementioned indicator surged to 13% on April 7, when Bitcoin first fell below $74,500 in five months. Subsequently, those willing to take risks earned a 40% return over the next month, with Bitcoin rising to $104,150 on May 8.
Cointelegraph analysis indicates that there is no evidence that Bitcoin's bull market has ended. Traders' fears often exceed rational expectations. In fact, this cryptocurrency may even benefit from potential capital outflows from the stock market, suggesting that the current turmoil does not offset the long-term bullish trend of the market.
