Bitcoin Options Market Hits Highest Defensive Levels Since 2021, VanEck Report Shows

TLDR: Bitcoin put/call open interest ratio averaged 0.77, its highest reading since China banned mining in June 2021.  Put premiums relative to BTC spot volume hit an all-time high of 4 basis points, tripling mid-2022 levels. Historical data shows D9 skew decile has produced average 90-day BTC returns of +13.2%, the strongest of all deciles. [...]

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