S&P 500 put-call skew nears 3-year high, signaling risk for BTC

A surge in bearish bets in the S&P 500 options market could create short-term downward pressure on cryptocurrency, according to a recent analysis. BeInCrypto reported, citing data from The Kobeissi Letter, that the S&P 500's three-month put-call skew has risen to around 0.50, approaching its highest level in three years. The one-month skew has also surged to about 0.53, its highest point since the 2022 bear market. A higher skew signifies that more investors are buying put options to hedge against downside risk. This trend suggests a general risk-off environment, the outlet noted. As investors are more likely to reduce their exposure to risk assets and move toward safer alternatives, capital inflows into Bitcoin and the broader crypto market could slow.