1) In a continuous downtrend in the existing range, it's not a surprise to see ongoing downside plays (protection and bearish) on BTC. How these are initiated determines the degree of likely returns. Put skew is back to Feb5th levels, IV>RV. 58k Puts in demand, Put spreads, +RRs.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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