The bitcoin option put/call ratio of each exchange has dropped to 0.47, which indicates that fewer investors seek downward protection to prevent price decline than before the bill to raise the US Debt limit was passed
The bitcoin option put/call ratio of each exchange has dropped to 0.47, which indicates that fewer investors seek downward protection to prevent price decline than before the bill to raise the US Debt limit was passed.
Price:Due to the Asian trading day starting with a slight rise in Bitcoin and a decline in Ethereum, experts predict market adjustments before FOMC, emphasizing the resilience of digital assets in US regulatory and debt challenges.
The decline in the bitcoin option put/call ratio indicates that Cryptocurrency investors are less worried than they were in June, as US legislators conflict over raising the country's Debt limit.
Bitcoin and Ethereum are still thriving
As the Asian trading day began, Bitcoin rose 0.1% to $27109, while Ethereum fell slightly to $1890.
Joe DiPasquale from BitBullCapital stated that this week's theme will be adjustment and integration before the next FOMC meeting minutes are released on June 14th.
He told CoinDesk in a report: "We have been looking forward to adjustments and consolidation between $25000 and $27000, which is what we saw last month." "Although we have not conducted a major test on $30000 yet, it is not surprising to try key resistance levels again
Mark Connors, research director of digital asset management company 3iQ, pointed out that it is impressive that despite the harsh regulatory environment in the United States, the digital asset market is still thriving, thanks to sustained concerns about unprecedented debt issuance within the United States
In his letter to CoinDesk, he wrote, "Due to the stock and debt markets wanting to know to what extent the re issued bonds by the US Treasury will affect liquidity and thus market prices, digital assets are taking care of themselves
Connors wrote that although the focus in 2023 will be on the increasing dominance of Bitcoin in the challenging US regulatory environment and the soaring costs, the performance of Ethereum after the merger, including the unexpected non impact of pledge "unlocking", the increase in pledge demand, and the "burning" of more than 250kETH's commitment to achieve deflation, is attracting market attention.
Therefore, although the fate of the $500 trillion stock and debt market depends on the ability of central banks and the Ministry of Finance to provide much-needed liquidity, the leading digital assets Bitcoin and Ethereum are processing business, and the market is responding - even if institutions and regulatory agencies are not, "he told CoinDesk.
Bitcoin's bearish/bullish ratio has decreased since recent debt transactions
Derivatives data shows that when bearish sentiment increases, this indicator tends to rise. The put/call ratio of Bitcoin options on various exchanges is currently 0.47, lower than the 1.34 in early June.
The buyer of a put option purchases the right to sell the asset at a specified price, while the buyer of a call option purchases the right to purchase the asset. The relationship between the two can indicate investors' emotions, especially when rising or falling to extreme levels
The number of put and call options purchased is measured within the past 24 hours, with a value above 1 indicating a put and a value below 1 indicating the opposite.
The recent decline indicates that fewer and fewer traders are seeking to purchase downside protection to prevent future price declines. The surge in protective measures at the end of last month may be related to concerns about the recent debt agreement reached between the Democratic Party and the Republican Party.
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