According to data from cryptocurrency derivatives exchange Deribit, the number of outstanding calls in Bitcoin options open positions is increasing compared to sales.
According to Deribit Commercial Director Luuk Strijers, this situation has caused investors to lose Bitcoin price. It will gain value in the first months of 2024 shows what he predicted.
“Bitcoin put-call ratio is fluctuating between 0.4 and 0.5 this year. “We observed that this ratio decreased for longer maturities (options), indicating that clients are using call options more frequently to take positions based on March and June 2024 expirations.” said Strijers, “This trend indicates a longer-term bullish sentiment in the market, with the number of call options increasing compared to put options.” he commented.
Put-call ratios below one indicate that buying volume exceeds selling volume and are interpreted as bullish. According to data from The Block, the put-call ratio on Deribit dropped to 0.43 today.
GreeksLive also made a similar analysis on social media. in sharing“When we look at the options data, we can see that the put-call ratio is low, which indicates that the transactions made this week are concentrated on purchases.” It was said.