About $4.5 billion worth of crypto derivatives options on Deribit expired on Friday New York time. Deribit Chief Commercial Officer Luuk Strijers said that the current Bitcoin Put/Call Options Ratio (Put/Call Options Ratio) hints at a bullish signal in the market.
“The put/call ratio is bullish as there are more open calls than puts,” Strijers said.
A put/call ratio below 1 means call volume exceeds put volume, indicating bullish market sentiment. Data from The Block shows that the current put/call ratio on Deribit is 0.49. (The Block)