Golden Finance reported that options worth about $4.5 billion on the Deribit derivatives exchange will expire on Friday, New York time. Deribit Chief Commercial Officer Luuk Strijers said that today's Bitcoin Put/Call Options Ratio suggests a bullish signal in the market.
Strijers said that when there are more open call options than put options, the put/call ratio is below 1, that is, call options volume exceeds put options volume, which indicates bullish market sentiment. According to data from The Block dashboard, the put/call ratio on Deribit today is 0.49.
Additionally, the basis between futures and spot is also increasing, with traders expecting expiring contracts to settle at higher levels than today’s spot price, another bullish sign.