In this week's Crypto Insight I discussed...
The recent failure of BTC to convincingly break above 60k and the coincident collapse in implied and realised volatility. Prices have been rangebound lately and options markets have repriced accordingly. I have taken the sell off in volatility as an opportunity to top up protection and buy puts as BTC looks exhausted in the short term. I would be looking for support to come in between 43k and 50k in a correction over coming weeks, where I would monetise some of my hedges. I was also able to cover some short call positions as the market and vol sold off together.
Filmed on Tuesday 23rd March 2021.
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