Is Bitcoin on Shaky Ground? Market Signals Reflect Patterns That Foretold the Recent Slide in Trump Media Shares

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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

The implied probability distribution is skewed to the left, suggesting expectations for price pullback.price struggles to secure a foothold above $90,000, developments in the Deribit-listed options market tied to the cryptocurrency resemble patterns that foreshadowed the recent price slide in the Trump media shares.

Per data tracked by crypto financial platform BloFin, the implied probability distribution now shows a"left shift," suggesting that the market participants see a higher probability of BTC trading at lower prices from here. Ardern added that a similar left shift was seen in the DJT options market, presaging the recent price slide. The share price has halved to $27 in just over two weeks, according to charting platform TradingView. DJT surged to a high of $54 at the end of October, as markets priced in a potential victory of Republican candidate Donald Trump's victory in the U.S. election held on Nov. 5.

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