Bitcoin’s Long-Term Put Options See Sustained Demand as Price Consolidates

“Bitcoin’s longer-term puts, or bearish bets, are drawing stronger demand than calls for the first time this year, a sign the recent sell-off has taken a toll on market confidence.

According to data provider Skew, the six-month put-call skew, which measures the relative expensiveness of puts and calls, crossed above zero on May 17, indicating a bias for puts.

The metric has remained positive ever since, and was hovering at 4% at press time. That’s the longest stretch above zero in at least a year.”