options skew is rewriting assumptions about basis compression: reading the Didn’t Bitcoin tape

Positioning often matters more than the headline itself.

Put beside current chatter on “Why Didn’t Bitcoin Crash Harder After the Binance Hack? CZ Weighs In,” the incentive problem looks clearer.

A simple checklist—options skew, spot ETFs, and inventory—beats improvising under stress.

Better questions beat louder opinions when regimes shift.

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