Two Key Metrics Show Crypto Traders Turning to Ether From Bitcoin
Futures and options market metrics suggest traditional finance players and sophisticated market participants may soon rotate money into ether from bitcoin.
Futures and options market metrics suggest traditional finance players and sophisticated market participants may soon rotate money into ether from bitcoin.
We have seen interest in loading up more topside with strong demand for the March 2024 expiry calls, one OTC desk said.
The notional open interest in BTC options listed on Deribit rose to a record $15 billion last week as traders scrambled to take bullish exposure.
The one-month call-put skew has risen above 10%, indicating a strongest bullish bias in 31 months.
Options worth $4.5 billion are set to expire on Friday, Deribit told CoinDesk.
The large flow was concentrated in the so-called out-of-the-money calls, indicating a bullish outlook on the second-largest cryptocurrency by market volume, according to Greeks.Live