Analysis: Bitcoin Stabilizes Around $71,000, Skew Rebounds, Long-Short Positions Return to Balance Awaiting Quarterly Expiry

Odaily According to an analysis posted by Greeks.live on the X platform, Bitcoin is currently maintaining a volatile pattern around $71,000 after a rebound, temporarily averting a crisis of decline. The Implied Volatility (IV) across major tenors has seen a significant drop. The mid-to-short-term IV has fallen by over 5% compared to its peak and by over 3% compared to two days ago. For Ethereum, the mid-to-short-term IV has dropped by over 8% compared to its peak and by over 5% compared to two days ago. Skew has rebounded across the board, with many put options established during the crisis period being closed out, leading to a rebalancing of bearish and bullish forces. This Friday marks the quarterly expiry, with over 40% of options set to expire. Currently, the most concentrated strike price of $75,000 remains a strong resistance level.

(Note: Skew typically refers to the difference in implied volatility between options at different strike prices. An upward trend in this indicator usually signals a recovery in market risk appetite and a warming of bullish sentiment.)