Bitcoin price soared back above $71,000 but BTC options data shows pro traders are still extremely cautious about the sustainability of the rebound rally. Is the sell-off really over?
Bitcoin rallies to $71.5K after historic sell-off, but derivatives metrics remain soft
AI IMPORTANCE: 3/10
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AI INSIGHT
Bitcoin (BTC) rallies to $71,500 on Feb. 6 after a historic multi-day sell-off; BTC options flow shows elevated put-call skew and demand for downside protection, short-dated options open interest declined, and perpetual futures funding rates moved toward zero with basis compression.
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