Bitcoin Options Market Signals Further Upside Potential For BTC Price: New ATH Soon?
Bitcoin has maintained a valuation above $100,000 despite recent sluggish price action attributed to selling pressure in the derivatives market. On-chain data indicates potential for further growth. A recent analysis by Glassnode reveals a rise in bullish sentiment among Bitcoin options traders, highlighted by the 1-month 25 Delta Skew metric, which dropped to approximately -6.1%. This negative skew indicates that call options are more expensive than put options, suggesting traders are more optimistic about Bitcoin's price increase. Historically, a negative 25 Delta Skew signals strong bullish sentiment and often precedes price appreciation. Current options data supports potential upward movement for Bitcoin, with the price currently at around $102,800, reflecting a decline of over 1% in the past 24 hours.
