2026-01-05 09:39:46

Asian morning trading shows many highlights. Bitcoin and Ethereum respectively surpassed $92,000 and $3,100, with this rally driven by strong US stocks and easing oil prices.

Interestingly, this trend reflects a deeper change—the linkage between crypto assets and risk assets is shifting from a temporary correlation to a systemic one. In other words, the crypto market is no longer just following the trend casually, but is showing a more structured correlation.

Looking at the options side, market signals are also undergoing subtle adjustments. The put skew shows signs of convergence, indicating that traders' pricing of downside risk is becoming more rational. From the perspective of longer-term options contracts, such as the one expiring on January 30, 2026…

BTC-1,54%

ETH-2,95%

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SmartContractPlumber

· 01-06 21:53

Hmm... The convergence of the bearish skew sounds promising, but I'm more concerned about whether the risk pricing model behind this "institutional shift" has been audited. The previous options pricing vulnerability case was caused by improper access control leading to an integer overflow, almost causing the hedging mechanism to completely collapse. We need to be cautious.

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Anon32942

· 01-06 07:18

At the $92,000 mark, it feels like it's made of paper, and could break at any moment...

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BoredWatcher

· 01-05 17:35

92,000 has been reached again, and this time it feels different, not just a superficial rebound.

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ruggedNotShrugged

· 01-05 10:09

9.2万破了就直接冲，这波还真不一样老是听人说"制度性转变"，实际就是币圈没那么野了呗期权那块确实有点意思，但感觉又是自我安慰的说法美股带飞加密这事啥时候才能反过来说得再好听也改不了一个现实——都得看宏观脸色

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MeaninglessApe

· 01-05 10:08

9.2万确实香，但这"制度性转变"说法有点过了哈

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CryptoCross-TalkClub

· 01-05 10:05

Laughing to death, and now you're talking about "structural relevance" again. That term sounds more impressive than my comedy sketches. Just $92,000, everyone, this hasn't reached our dream price yet. The US stock market is strong, oil prices are softening, oh my goodness, what is this, a "combination punch" from the market? I think it's just a pretext to trick us into chasing highs. Convergence of skewness? That means it still has to fall, let's just wait to be "rationally priced." The contract for January 30, 2026, brother, I can't bear to look at it, it's too far away, I'm afraid I won't be alive by then.

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ProposalDetective

· 01-05 10:01

9.2K has broken below, this time it's really different It's the US stocks leading the rhythm again, when will we become independent Options data suggests a rational trend... just listen to it Can this wave hold steady, feels like it's going to fluctuate again Structural change? Sounds pretty intimidating, let's wait and see --- It's up again... when is the right time to buy in Is the skewness converging? Are traders becoming rational? It looks to me like it's just another trap to lure more buyers With US stocks so fierce, can we be autonomous Is 9.2K really stable, or is it just a false breakout

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BanklessAtHeart