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BTC funding: 92nd percentile Futures OI: -0.2σ vs its 1y trend 1-month IV: 6th percentile Leverage and volatility are sending different signals. How long do cheap options and crowded leverage sit together?

BTC funding: 92nd percentile Futures OI: -0.2σ vs its 1y trend 1-month IV: 6th percentile Leverage and volatility are sending different signals. How long do cheap options and crowded leverage sit together?
