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HODL your horses, Bitcoin options data says $18.5K is not a local top

Published 11/18/2020, 05:11 PM
Updated 11/18/2020, 07:00 PM
HODL your horses, Bitcoin options data says $18.5K is not a local top
BTC/USD
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BTC/USD
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Earlier today, Bitcoin (BTC) price peaked at $18,476 after an impressive 35% bull run that appears to have started in early September.

This powerful movement was followed by a correction to $17,000, a natural pullback. This adjustment led some investors to question whether the current formation resembles the $13,850 top formed in July 2019.

BTC/USD, July 2019. Source: TradingView
Bitcoin 3-month futures annualized basis, July 2019. Source: Skew
Bitcoin 3-month futures annualized basis, November 2020. Source: Skew
Bitcoin 3-month options 25% delta skew, June 2019. Source: Skew
Bitcoin 3-month options 25% delta skew, November 2020. Source: Skew

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