Bitcoin call options cluster at $70,000 shows bullish skew, analyst says | Headlines | News | CoinMarketCap
03/07/2024 21:49
Bitcoin options are signaling bullish sentiment, evidenced by the strike positioning and put-call ratio for March's end-of-month expiry, according …
Bitcoin options are signaling bullish sentiment, evidenced by the strike positioning and put-call ratio for March's end-of-month expiry, according to one analyst.
"Since the recent ascent of bitcoin to a new all-time high, the highest instruments traded by volume are monthly and mid-month expiry call options with a strike price of $70,000," Bitfinex Head of Derivatives Jag Kooner told The Block.
This concentration of calls at the $70,000 strike price is shown for both Friday's end-of-week and March's end-of-month expiries on Deribit, the largest bitcoin options platform in the world.
There has been a concentration of call options at the strike price of $70,000 in the past 24 hours. Image: Deribit.
Kooner postulates that the current put-call ratio of bitcoin options …