Yesterday's Closing Price
Yesterday's Delta Skew
Delta Change vs last week
Bitcoin price and six month 25-delta Skew Analysis
What is BTC 25 Delta Skew 6-Month?
Definition: BTC 25 delta skew 6-month measures the difference in implied volatility between 25-delta Put and Call Bitcoin options with 180-day expirations, normalized by at-the-money implied volatility. This provides the longest-term view of market sentiment available in liquid Bitcoin options markets.
This chart displays the BTC-USD price alongside the 6-month 25 delta skew from the Deribit Bitcoin options market. The semi-annual skew reveals how options traders are positioning themselves for potential price movements over a half-year horizon, capturing long-term structural market shifts and macro trends.
How to Read 6-Month Bitcoin Options 25 Delta Skew
- Positive skew values: Higher demand for long-term Put options, indicating structural bearish sentiment or strategic hedging against major downside risks
- Negative skew values: Higher demand for long-term Call options, suggesting strong conviction in multi-month bullish price trajectories
- Skew approaching zero: Balanced long-term market outlook, with neither bullish nor bearish bias dominant over the six-month horizon
The 6-month skew is particularly valuable for identifying major market cycle shifts and long-term sentiment changes. This timeframe often reflects strategic institutional positioning and captures fundamental shifts in market structure that shorter-term metrics might miss.
Compare BTC 25 Delta Skew Across Different Timeframes
For a complete view of market sentiment from short to long-term horizons, compare the 6-month 25 delta skew with shorter timeframes:
- Track immediate market positioning with the BTC 25 delta skew weekly analysis
- Monitor medium-term sentiment through the BTC 25 delta skew monthly data
- Analyze quarterly market expectations with the BTC 25 delta skew 3-month trends
Key Insight
The 6-month Bitcoin 25 delta skew often serves as an early warning system for major market cycle shifts. Extreme readings or significant trend changes in this timeframe frequently precede substantive, longer-duration price movements in Bitcoin markets.