"Given the velocity of last week's dip, the market is still very cautious about downside risk. Risk reversals until October are still skewed towards puts in both BTC and ETH."
"NFP failed to reassure markets. Fast money continued to add to Puts buying 1week $49-$53k Puts when BTC <$55k."
"According to Stewart, recent options market flows point to concern that BTC will drop to $50,000 or even $40,000."
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