According to Blofin, 24 hours before the FOMC meeting, the baseline scenario is a slow decline in inflation and growth, and the risk of recession is not high, Wu said. The recent correction in risky assets such as commodities and stocks indicates an increase in risk aversion trading at the macro level.
Affected by risk aversion, BTC's short-term skewness remains negative, and the rebound of the butterfly index further indicates investors' concerns about recent risks. There is a considerable negative gamma between $65,000 and $70,000, which exacerbates price fluctuations.
This negative gamma is mainly caused by options expiring on August 2. As the expiration date approaches, market price volatility is likely to increase.
