By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin’s been trading in a tight range lately, with volatility indices surprisingly calm despite the Iran war, oil shocks and Fed rate-hike expectations hanging over the market.
Bulls are calling it resilience. But if you zoom out and look at other markets, maybe it is just complacency — and could lead to a brutal reality check.
Take oil, for example. WTI has jumped 37% this month to $91.84, and some analysts are saying $200 isn’t out of the question. Call options on oil are now three times pricier than puts. That’s a pretty clear sign of outsized bullish positioning. All this means more inflation and economic shocks ahead.
In the U.S. Treasury market, the…
