Gate News Report, March 9 — Despite the weekend escalation of tensions in Iran pushing oil prices above $115 and global stock markets turning defensive, Bitcoin has shown clear resilience. Options flow indicates reduced market concerns about further declines, with put skewness easing from early last week’s shock. US Treasuries and gold failed to provide their usual safe-haven functions as soaring oil prices heightened inflation fears and pushed yields higher, making the dollar the preferred safe-haven asset. Bitcoin’s downside protection remains intact, but options flow reflects more nuanced expectations, such as the purchase of April-expiring straddle options indicating market anticipation of continued volatility rather than a one-sided decline. Open interest in March is concentrated in $75,000 and $125,000 call options, suggesting that despite ongoing macro uncertainties, optimism toward Bitcoin is returning. This week’s focus includes Wednesday’s CPI, Thursday’s unemployment claims, and Friday’s core PCE and JOLTS job openings data.
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