NO. BTC's current structure lacks velocity for $88K. Spot ETF flows have normalized; delta hedging impulse absent. OI at higher strikes is weak. 42% price discovery in 5 days is an outlier event. 98% NO — invalid if $68K sustained before May 9.
NO. BTC's current structure lacks velocity for $88K. Spot ETF flows have normalized; delta hedging impulse absent. OI at higher strikes is weak. 42% price discovery in 5 days is an outlier event. 98% NO — invalid if $68K sustained before May 9.