Bitcoin’s price jumped to a fresh 11-month high on Friday, with the options market betting on a sustained bull move.
The put-call open interest ratio looks to have risen from 0.50 to 0.63 this week due to greater selling in put options.
With the combination of negative skews and a rising put-call open interest ratio, bitcoin’s latest move above $10,000 looks like it can be sustained.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.