BTC's dominance fell by 1.8% to 54.34%, the largest one-day drop since January, attributed to fears around Mt. Gox payout impact and accompanying sell-offs from miners and ETFs.
Increased demand for short-term BTC put options on Deribit supports the view of apprehensions, with call-put skews turning negative as traders seek downside protection against potential price drops.
While concerns persist over the impact of Mt. Gox reimbursements on BTC's price, some observers suggest that the selling pressure may not be as severe as anticipated, potentially mitigating the market fallout.
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