Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin options are indicating a bullish sentiment as per the strike positioning and put-call ratio for March’s expiry.</li>
 <li>A significant concentration of call options at a $70,000 strike price is seen for both weekly and monthly expiries on Deribit.</li>
</ul>
<p>Bitcoin options are demonstrating a positive outlook, as revealed by the strike positioning and put-call ratio for the end of March, according to one market analyst.</p>
<p>The recent surge of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> to a new record high has resulted in the highest instruments traded by volume being monthly and mid-month expiry call options with a strike price of $70,000, as stated by Jag Kooner, Head of Derivatives at Bitfinex.</p>
<h2 id="call-options-concentration">Call Options Concentration</h2>
<p>This accumulation of call options at the $70,000 strike price is evident for both the end of the week and the end of March expiries on Deribit, the world’s largest Bitcoin options platform.</p>
<p>Kooner suggests that the current put-call ratio of Bitcoin options indicates traders are showing a bullish bias. The put-call ratio has remained below 0.6 consistently for the first time in half a year, with the 24-hour put-call ratio displaying an even more positive outlook of 0.47.</p>
<h2 id="implied-volatility-decreases">Implied Volatility Decreases</h2>
<p>The global put-call ratio for Bitcoin options is currently at 0.6. A put-call ratio of less than 1 implies bullish sentiment, indicating more interest in potential upside (calls). Conversely, a put-call ratio greater than 1 usually implies bearish sentiment, indicating more interest in downside protection (puts).</p>
<p>The Bitfinex head of derivatives also highlighted the recent decrease in implied volatility in the options market, indicating lower volatility expectations among traders in the past 24 hours. As a result, the premium for options has dropped across all strike prices, making it cheaper to take on positions. Deribit’s implied volatility index for Bitcoin fell to 72% from 77% in the past 24 hours.</p>
<p>A decline in implied volatility values often leads to a decrease in option premiums, as the expectation of a lack of future volatility compared to the past allows for lower risk for options market participants.</p>
<p>Options are derivative contracts that give a trader the right, but not the obligation, to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option provides the right to buy, and a put offers the right to sell. A trader who buys put options is generally bearish on the market, while a call buyer is bullish.</p>

Bitcoin Call Options at $70,000 Indicate Bullish Trend, Expert Reveals

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