Optimistic US inflation data released earlier this week restored institutional confidence in BTC's long-term bullishness, but concerns about a near-term price correction remain.
According to an analysis of CME options trading data, the likelihood of a near-term rebound remains low. After Wednesday's US CPI data was lower than expected, the implied volatility of short-term out-of-the-money put options was higher than that of call options, indicating that investors are cautious about the near-term downside risks. Despite this, the implied volatility of long-term options is relatively stable, showing that institutions are optimistic about Bitcoin's long-term prospects. (CoinDesk)