Odaily Planet Daily report: Matthew, Head of Digital Assets Research at VanEck, posted that Bitcoin has entered a consolidation phase after a sharp decline, with its 30-day average price falling 19%, while spot prices have stabilized. Implied volatility has dropped from 80 to 50, and futures funding rates have decreased from 4.1% to 2.7%. Option markets have reached peak defensive positioning, with the put/call open interest ratio averaging 0.77—the highest level since June 2021—and put option premiums relative to spot trading volume hitting a historical high of 4 basis points. On-chain activity and miner selling remain subdued, with transaction volumes down 31% and daily fees down 27%. The distribution rate among long-term holders has slowed, and miners have sold nearly all newly issued BTC.
VanEck: Bitcoin Put/Call Ratio Reaches 0.77, Highest Since June 2021
KuCoinFlashShare
Summary
VanEck’s Bitcoin analysis shows the put/call open interest ratio averaged 0.77, the highest since June 2021. Bitcoin news reports that the put premium relative to spot volume reached a record 4 basis points. Prices stabilized after a 19% decline in the 30-day average, with realized volatility easing to 50%. Futures funding rates also fell to 2.7%. On-chain activity weakened, with transaction volumes down 31% and fees down 27%. Miners sold nearly all newly issued BTC.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.