November 8, 2024

Rise To Thrive

Investing guide, latest news & videos!

Data highlights Bitcoin’s potential path to $40K amid global economic turbulence

1 min read
Data highlights Bitcoin's potential path to K amid global economic turbulence

Bitcoin (

Deribit BTC options put-to-call 24h volume ratio. Source: Laevitas.ch

Over the past week, this indicator has averaged 0.60, reflecting a 40% bias favoring call (buy) options. Interestingly, Bitcoin options open interest has seen a 51% increase over the past 30 days, reaching $15.6 billion, and this growth has also been driven by bullish instruments, as indicated by the put-to-call volume data.

As Bitcoin’s price reaches its highest level in 18 months, some degree of skepticism and hedging might be expected. However, the current conditions in the derivatives market reveal healthy growth with no signs of excessive optimism, aligning with the bullish outlook targeting $40,000 and higher prices by year-end.