BTC Derivatives, Spot-Futures Div and Shorts
Key Questions
What has happened to BTC open interest and funding?
OI collapsed from 901K to 716K BTC with negative funding rates. Funding hit an extreme 781% while Binance saw 528% outflows.
What options metrics are notable?
Implied volatility is 53.17 with 14% put premium skew. Today's expiry shows put/call at 0.67 and max pain at $66K.
Where are short concentrations and squeeze risks?
Shorts are concentrated between $78K-$83K, setting up potential squeeze to $82K. Reclaiming $79,300 is needed for uptrend confirmation.
What CME gaps and new products exist?
Gaps sit at $76K, $79.2K, $84.1K above and $67.2K below. CME launched Nasdaq Crypto Index Futures covering BTC, ETH, and SOL on June 8.
How significant were recent liquidations?
$1.87B in futures liquidations occurred during the sell-off. CFTC cleared Coinbase for global perpetual futures amid these moves.
OI collapsed from 901K to 716K BTC with neg funding; BTC implied volatility 53.17, options delta skew 14% put premium. Short concentration $78-83K sets up squeeze risk to $82K. Need to reclaim $79,300 for uptrend. Negative CVD confirms aggressive shorting. CME gaps at $76K, $79.2K, $84.1K above and $67.2K below. Funding rates hit 781% extreme; Binance outflows surged 528%. Nasdaq approved Bitcoin index options on PHLX. CFTC cleared Coinbase for global perpetual futures. $1.87B liquidations in recent drop. CME Group launched Nasdaq CME Crypto Index Futures covering BTC, ETH, SOL on June 8, expanding institutional multi-asset exposure. Options expiry today with $2.5B BTC/ETH/XRP contracts, BTC put/call 0.67, max pain $66K above spot — bullish skew. Institutional options flow targeting $75K via butterfly.