Bitcoin Options Flashing Bullish Signals—Is A New All-Time High Imminent?

Derivatives traders are betting big on BTC’s next leg up. The options market shows aggressive call buying, with open interest stacking at strike prices well above current levels. Are the whales front-running another parabolic move?

Key metrics to watch: Skew ratios flipping positive, implied volatility creeping up, and that telltale spike in $100K+ call options. Meanwhile, Wall Street’s latest ’crypto expert’ just discovered what a blockchain is—right on time to miss the rally.

With spot ETF flows stabilizing and macro winds shifting, this setup looks eerily similar to pre-breakout patterns from past cycles. Buckle up.

Options Market Data Shows Shift In Trader Sentiment

In a May 16 post on the X platform, blockchain analytics firm Glassnode shared fresh on-chain insights suggesting a rise in bullish sentiment amongst Bitcoin options traders. The relevant indicator here is the 1-month 25 Delta Skew, which compares the implied volatility of bullish bets (call options) to the bearish bets (put options).

On the other hand, a negative value for the 1-month 25 Delta Skew indicator signals that calls are more expensive than puts. This suggests that traders are more willing to bet on the price of bitcoin moving higher than for protection against downside exposure.

According to data from Glassnode, the 1-month 25 Delta Skew metric recently witnessed a drop to around -6.1%. This decline, the analytics platform noted, signifies that call options now carry higher implied volatility compared to put options. 

This options market trend means that there is now rising bullish sentiment amongst Bitcoin traders, as they lean more into betting on the BTC price rising. Glassnode also pointed out that this increasing bullish sentiment reflects a risk-on environment, where traders and investors are more willing to risk their funds. 

Historically, a negative 25 Delta Skew is a strong bullish sentiment indicator, as it usually precedes further appreciation of the Bitcoin price. Moreover, current options data not only supports BTC’s upward movement, but could also serve as a positive catalyst for more growth as additional long positions enter the market.

Bitcoin Price At A Glance 

As of this writing, the price of BTC stands at around $102,800, reflecting an over 1% decline in the past 24 hours.