Bitcoin rallies to $71.5K after historic sell-off, but derivatives metrics remain soft

Bitcoin price soared back above $71,000 but BTC options data shows pro traders are still extremely cautious about the sustainability of the rebound rally. Is the sell-off really over?

Key takeaways:

Bitcoin's derivatives signal caution, with the options skew hitting 20% as traders fear another wave of fund liquidations.

Bitcoin price recovered some of its Thursday losses, but it still struggles to match the gains of gold or tech stocks amid low leverage demand.

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