Share this article
Bitcoin Call Skew Hints at Further Price Rise as Spot ETF Optimism Energizes BTC
The one-month call-put skew has risen above 10%, indicating a strongest bullish bias in 31 months.
Updated Nov 9, 2023, 7:51 a.m. Published Nov 9, 2023, 7:51 a.m.
A gauge used by options traders for predicting the direction of bitcoin [BTC] is now exhibiting the strongest bullish bias in 31 months.
Bitcoin's 25-delta one-month call-put skew, which assesses the relative price of calls versus puts expiring in four weeks, has risen above 10%, reaching the highest since April 2021, according to data tracked by Amberdata. In other words, demand for calls or bullish bets is outpacing puts, offering downside protection.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
With spot ETF optimism driving BTC above $36,800 on Thursday, investors have likely stopped selling calls above the cryptocurrency's spot price, a popular strategy to generate additional yield on top of coin holdings.
Meanwhile, speculators could be buying call options to have leveraged upside exposure. Longer duration call-put skews also show a bias for continued BTC strength over two, three, and six months.
A call option gives the purchaser the right but not the obligation to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market. A put option gives the right to sell.
Traders have been scrambling to buy call options for the past few weeks, leaving market makers with a significant amount of net short exposure above $36,000. With prices above the said level, market makers will likely buy the cryptocurrency to adjust their net exposure back to market-neutral, inadvertently accelerating the rally.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Doha Bank Issues $150M Digital Bond Using Euroclear’s DLT Platform
The deal achieved T+0 settlement on a permissioned distributed ledger rather than a public blockchain, reflecting a growing regional shift toward regulated digital bond infrastructure.
What to know:
- Doha Bank completed a $150 million digital bond using Euroclear’s distributed ledger infrastructure, highlighting a preference for regulated DLT systems over public blockchains for institutional tokenized debt.
- The bond was listed on the London Stock Exchange’s International Securities Market, achieving same-day settlement through a permissioned DLT platform.
- The transaction is part of a regional effort to modernize capital markets infrastructure by integrating DLT into existing systems rather than creating new crypto-native systems.
Top Stories
