🚧 The derivatives market indicates a potential bearish trend in the crypto industry
The key indicator is the 180-day imbalance between Bitcoin call and put options on Deribit, the largest crypto derivatives exchange.
As of the time of publication, this indicator has dropped to -0.42, the lowest value since June 2023. The negative balance indicates a preference for put options, typically used for hedging against price declines.
This may suggest caution among traders or a strengthening of bearish sentiment in the medium term.
