Bitcoin saw a positive shift as skew reduced, easing bearish sentiment. The price remained stable, with lower trading volume.
With SBF going to jail and BTC beginning to see green, the hope in the crypto space soared. Due to the optimism in the sector, many who held a skeptical stance began to back out.
When the skew gets this low, history suggests that Bitcoin’s price might rebound, but past instances happened in uncertain markets. Hence, investors believe that it’s a cautious sign. It’s worth noting that while this price had previously been observed in the futures market, the highest price recorded in the spot market was $35,280.
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