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Crypto Daybook Americas
Lack of Conviction in Institutions' Bitcoin Positioning
Despite a 7% rally in bitcoin's price since Sunday, conviction remains weak due to key risks such as the upcoming US inflation report and US-Iran truce talks. Institutions are buying call options to bet on price gains, but also purchasing puts for downside protection. The demand for puts is reflected in the options skew, which remains negative across all time frames. The US consumer price index f…
April 10, 2026, 11:29 a.m.
Crypto Daybook Americas
Lack of Conviction in Institutions' Bitcoin Positioning
Despite a 7% increase in bitcoin's price since Sunday, conviction remains weak due to the recovery stalling near $72,000 ahead of key binary risks, including Friday's U.S. inflation report and U.S.-Iran truce talks. Institutions are adopting a cautious approach, evident in the options market where they continue to pursue upside via calls. Demand for the $45 call expiring in May has been observed,…
April 10, 2026, 11:29 a.m.