In this week's Crypto Insight I discussed...
The heavy price action in crypto markets along with the whole macro risk asset spectrum.
Whilst on-chain data shows accumulation in stronger hands as markets consolidate and younger coins have been sold by late entrants into the bull run from January.
As we broke down from the triangle that had been forming over last couple of weeks and are now re-testing the key 28K level, volatility markets have reacted.
Even though the sell-off so far has been orderly and realise vol hasn’t really spiked yet, the nervousness around a potential technical breakdown has the front end implied vol and skew going higher.
We see deep downside puts in August maturity at 100 vol looking quite cheap considering the potential for panic should 28K break.
Filmed on on Tuesday 20th July 2021.
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