$MicroStrategy(MSTR)$ The resilience of derivatives is supported by the Bitcoin options markets that were steady in light of Bitcoin declines. The 25% delta skew metric indicates that put (sell) options are less expensive than equivalent call (buy) options. This suggests that derivatives traders have not responded with panic to the recent decline in Bitcoin's price. Had whales or arbitrage desks expected a further decline in Bitcoin, the metrics would have shown increased volatility.
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