Bitcoin Surges Amid Divergence with S&P 500
- Bitcoin options on Deribit indicate a bullish bias, with BTC trading above $100,000.
- S&P 500 options skew shows increased downside risk compared to the previous year.
- U.S.-listed spot BTC ETFs saw nearly $1 billion in inflows recently.
- The Net Unrealized Profit and Loss (NUPL) for miners is around 0.5, indicating strong positions.
The bullish sentiment in Bitcoin, supported by significant ETF inflows and miner holdings, contrasts with the cautious outlook for the S&P 500. This divergence suggests potential shifts in investment strategies as investors may seek alternative assets like Bitcoin amid traditional market uncertainties.
