Have bitcoin and ether finally turned a corner? It's looking that way, if crypto options traders are anything to go by.
Calls commanded 71.1 per cent of total bitcoin futures open interest, and 77.5 per cent for ether, according to Deribit data. The surge in the options markets, after months of tame trading and depressed volatility, coincides with a 40 per cent leap in the price of bitcoin in January - its best month since October 2021 - and a 32 per cent jump for ether.
"This is driven by renewed investors demand for call options as they expect spot momentum to continue higher," said Pulkit Goyal, vice-president of trading at OrBit Markets.
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