Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-options-indicate-bullish-momentum-as-expiry-approaches/" data-wpel-link="internal">Bitcoin Options Indicate Bullish Momentum as Expiry Approaches</a><br></p>
<p class="p1" style="text-align: justify">According to an analyst, <strong><a href="https://coin-turk.com/bitcoin-btc-balinalari-son-derece-mesgul-guncel-veriler-rekor-diyor" data-wpel-link="internal">Bitcoin</a></strong> options indicate a bullish momentum for the upcoming end-of-month expiry, as evidenced by strike position and put-call ratio. Jag Kooner, the Head of Futures Products at Bitfinex, stated that since <a href="https://en.coin-turk.com/despite-dollarization-expectations-the-us-dollar-maintains-dominance/" data-wpel-link="internal">Bitcoin</a> reached its all-time high, the most traded instruments by volume have been monthly and mid-month expiry call options with a $70,000 strike price.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-futures-market">What’s Happening in the Futures Market?</h2> 
<p class="p1" style="text-align: justify">The concentration of call options with a $70,000 strike price for both the weekend of March 8 and the end-of-month expiry in March on Deribit, the world’s largest Bitcoin options platform, has caught the attention of many analysts. Kooner suggests that the current put-call ratio of Bitcoin options indicates investors are leaning towards a bullish trend. Kooner made the following statement:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The put-call ratio has consistently stayed below 0.6 for the first time in six months, and the 24-hour put-call ratio is at an even more bullish 0.47.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-324518 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-veri-2.webp" alt="" width="627" height="433"></p> 
<p class="p1" style="text-align: justify">According to The Block’s Data Dashboard, the global put-call ratio for Bitcoin options is currently at 0.6. A put-call ratio below 1 signifies bullish momentum, indicating more interest in potential upward movement. Conversely, a put-call ratio above 1 typically points to a bearish trend and shows more interest in downward protection.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-324516 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-vadeli-orani.png" alt="" width="1057" height="835"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-futures-market">Details on the Futures Market</h2> 
<p class="p1" style="text-align: justify">The Head of Futures Products at <strong>Bitfinex</strong> noted that the high volatility in the options market has recently decreased, which points to lower volatility expectations among investors in the last 24 hours. As a result, the option premium has dropped across all strike prices, making it cheaper to take positions. Deribit’s volatility index for Bitcoin has fallen from 77% to 72% in the last 24 hours. Kooners commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Lower volatility values typically lead to a decrease in option premiums because the expectation of a lack of volatility in the future compared to the past provides lower risk for options market participants.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Options are derivative contracts that give an investor the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on or before a certain date. A call option grants the right to buy, while a put option grants the right to sell. It is assumed that an investor who buys a put option is indirectly bearish on the market, while a call option buyer is considered bullish.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-options-indicate-bullish-momentum-as-expiry-approaches/" data-wpel-link="internal">Bitcoin Options Indicate Bullish Momentum as Expiry Approaches</a></h5>

Bitcoin Options Indicate Bullish Momentum as Expiry Approaches

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