Bitcoin, Ether Options Keep 16% Put Premium as Traders Doubt Bounce
Updated
Updated · CoinDesk · Jul 3
Bitcoin, Ether Options Keep 16% Put Premium as Traders Doubt Bounce
3 articles · Updated · CoinDesk · Jul 3
Summary
Deribit options show bitcoin and ether traders still paying up for downside protection, with bitcoin’s one-week 25-delta put-call skew near 16% even as crypto prices rebound.
That caution has eased only partly from roughly 25% 10 days ago, while one-, three- and six-month skews still show put premiums of about 10% or more across BTC and ETH.
Large block trades also point to limited upside expectations: a BTC July 17 call condor is positioned to profit most if bitcoin finishes between $66,000 and $68,000.
Accumulation by long-term holders and renewed ETF inflows have not fully shifted sentiment, suggesting traders still expect range-bound or erratic moves rather than a sustained breakout.
Thin liquidity over the U.S. Independence Day weekend could amplify short-term volatility, reinforcing demand for hedges despite the market’s recent signs of life.