Ether's Bullish Outlook Strengthened by Rising Put-Call Open Interest Ratio

• Ether's put-call open interest ratio rose to 0.61, signaling a bullish outlook.
• The ratio hit its highest level in at least a year, according to Glassnode data.
• Wintermute noted a bullish sentiment following spot ETH ETF approvals.
• Traders use options to hedge positions and generate additional income.
• Positive call-put skews across time frames indicate bullish bets.
• Extreme ratios above 1 suggest market top, below 0.20 indicate bearishness.

Summary :
Ether's put-call open interest ratio rose to 0.61 on Wednesday, indicating a bullish outlook for the cryptocurrency. The ratio compares the number of bearish contracts to bullish options and is at its highest level in at least a year. This increase suggests that traders are optimistic about the future price of Ether. The rise in the ratio is consistent with positive call-put skews across different time frames, further supporting the bullish interpretation. However, traders should be cautious if the ratio continues to rise significantly, as extremely high ratios can signal an impending market top.

Sources :

- Coindesk