BTC's Long-Term Options Market Indicator Signals Bullish Bias Despite August Price Drop

Despite a rough August for Bitcoin, with a 13% drop in the first five days, there are still signs of encouragement for market participants. The long-term options skew for Bitcoin remains bullish, indicating a bias for price strength over the next six months. This is despite concerns about the U.S. economy and the unwinding of yen carry trades. The 180-day call-put skew for Bitcoin remains flat-lined above 3, suggesting a bullish bias for the cryptocurrency.