Analysis: Bitcoin stabilizes at $71,000, Skew rebounds, long and short positions return to balance, waiting for quarterly settlement

Greeks.live posted an analysis on platform X, indicating that Bitcoin is currently maintaining a fluctuation around $71,000 after its rebound, with the crisis of decline temporarily alleviated. The implied volatility (IV) across various major maturities has shown a significant decline, with the mid to short-term IV dropping over 5% from its peak and more than 3% compared to two days ago. Ethereum's mid to short-term IV has decreased over 8% from its peak and more than 5% compared to two days ago.

Skew has rebounded comprehensively, with many put options established during the crisis being closed out, restoring a balance between bearish and bullish forces. This Friday marks the quarterly expiration, with over 40% of options expiring, and the most concentrated strike at $75,000 remains a strong resistance level. (Note: Skew typically refers to the difference in implied volatility of options with different strike prices; an upward movement in this indicator usually signifies a warming of market risk appetite and an increase in bullish sentiment.)