TechFlow news: Greeks.live posted on social media that BTC rose more than 3% today, but the implied volatility (IV) across major maturities remained almost unchanged. In light of related news, this rally is clearly driven by spot demand. Given current market liquidity, a few thousand bitcoins in spot buying pressure is sufficient to steadily push up the entire market price by a significant level. Unlike derivative-driven markets, spot-driven rallies are more sustainable, and currently, buying call options is highly cost-effective.
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