As Wall Street chases upside in stocks like never before, the implications for bitcoin appear bullish, though with an important caveat. Record volumes of bullish S&P 500 call options, totaling about $2.6 trillion in notional value, signal a surge in speculative risk-taking on Wall Street. The frenzied trading offers bullish cues to crypto, as the two are positively correlated. On a deeper level, frenzied trading in calls points to speculative mania that could suddenly end, breeding downside vol…
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