๐จ ALERT: BITCOIN OPTIONS SIGNAL EXTREME FEAR AS DOWNSIDE PROTECTION PREMIUM HITS ALL-TIME HIGH
VanEck reports that Bitcoin's put/call open interest ratio peaked at 0.84, the highest level since China's mining crackdown in June 2021
Traders spent $685 million on put options over the past 30 days while call premiums fell 12% to $562 million
Relative to spot volume, put premiums reached roughly 4 basis points โ about 3x the levels seen during the Terra/Luna collapse
However, VanEck notes that historically, similar fear readings have preceded average $BTC gains of 13% over 90 days