Bitcoin Rally Has Legs as Volatility Shorts Unwind, CEO Says
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Two Prime CEO Alexander Blume argues Bitcoin's recent rebound still has room to run, pointing to the unwinding of volatility shorts as a key driver rather than a speculative blow-off top.
Funding rates across major perpetual futures markets remain subdued, and continued call option selling suggests traders are not yet chasing upside with leverage. This positioning backdrop implies the rally could extend without the froth typically seen near local tops.
The contrast between calm derivatives data and BTC's price action near the $78,300 support test gives the market a more nuanced setup than headline price swings alone suggest.