Frenzy Alert: JPMorgan's Bitcoin Retail Sentiment Score Hits Record High, MSTR's Call Skew Soars
Bitcoin (BTC) surpassed $93,000 following Donald Trump's election victory, leading to a surge in inflows into U.S.-listed spot ETFs and crypto stocks. JPMorgan's retail sentiment score reached a record high of 4, indicating strong demand for Bitcoin ETFs. The z score of 3.4 and higher reflects significant positive deviation from the average. The options market for MicroStrategy (MSTR) showed record bullish sentiment, with a one-year 25-delta put-call skew dropping to -26.7%, indicating higher premiums for call options compared to puts. Although the skew slightly recovered to -11.8%, it still favored upside bets. Analysts noted extreme bullish sentiment in MSTR, suggesting potential for a market drawdown unless Bitcoin continues to rise sharply. The unpredictable nature of surging retail investor sentiment raises concerns about possible market reversals despite the long-term investment potential of BTC and crypto assets.
