Bitcoin's Put-Call Ratio Hits 6-Month High as Negativity Rules

Bitcoin's Put-Call Ratio Hits 6-Month High as Negativity Rules
The bitcoin market appears plagued by negativity after the cryptocurrency lost half its value in 2 1/2 months.The cryptocurrency’s put-call open interest ratio, which measures the number of open positions in put options relative to those in calls, rose to a six-month high of 0.62 on Sunday, according to data provided by Skew. The ratio was 0.42 earlier this month.”The put-call ratio suggests demand for puts is currently high,” said Patrick Chu, director of institutional sales and trading at over-the-counter tech platform Paradigm. “We have seen a lot of risk reversal flow recently, where clients were buying puts/ selling calls.”Traders…