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Anchorage Digital's analysis shows Bitcoin options traders are heavily positioned for downside protection. Put skew ranks in the 82nd percentile on IBIT and 84th on Deribit. Markets are not pricing an extreme downside scenario for Strategy. Implied volatility has inverted for nearly half of 2026, with near-term volatility exceeding one-month volatility.
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Summary by ByteBrief
Bitcoin derivatives signal panic ahead of PCE data