Coinspeaker
Bitcoin Traders Hedge Downside as Put-Call Ratio Rises Above One
A recent price correction in the Bitcoin (BTC) market has shocked the options trading space. Analysts report a significant increase in downside bets. Traders are showing growing concerns about Bitcoin’s near-term price trajectory, which is evident in the rising open interest for put options and the surging implied volatility.
Options Data Indicates Bearish Sentiment
Deribit, a leading cryptocurrency derivatives exchange, shows that the put-call ratio for Bitcoin options open interest has surpassed one as we approach this Friday’s weekly expiry. This increase indicates a bearish sentiment in the market because traders are engaging in significantly more put options, which profit if the price falls, compared to call options that benefit from price increases.
Photo: Deribit
Deribit’s data highlights that traders are concentrating on put options at strike price
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