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🚨 Bitcoin is rising, but traders are still betting small.
The chart shows BTC grinding back toward $70K+, yet 1-month implied volatility on upside strikes remains low, especially in the $100K to $160K area highlighted on the right.
That means traders are not paying up for big breakout bets right now.
Speculation is still muted even with price recovering.
In simple terms: Bitcoin is moving higher, but the options market still does not believe in a major upside move.
That usually means leverage for bullish traders is still historically cheap if $BTC keeps climbing.