According to Jeff Park's analysis, options data shows that large Bitcoin holders are selling call volatility at higher price levels.
Direct Implication: As soon as the price tries to move up, profit booking starts - which suppresses volatility and causes $BTC to get stuck in a range.
There is demand, but supply is placing a cap from above.
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🚨 WHY #BITCOIN RALLY SLOWING DOWN?
According to Jeff Park's analysis, options data shows that large Bitcoin holders are selling call volatility at higher price levels.
Direct Implication: As soon as the price tries to move up, profit booking starts - which suppresses volatility and causes $BTC to get stuck in a range.
There is demand, but supply is placing a cap from above.