As Bitcoin climbs toward new highs, the derivatives market is sending a clear message that investors are becoming increasingly bullish.
Glassnode data shows the 1-month 25-day delta skew currently sits at -6.1%, meaning call options are trading at a premium over puts. In plain terms, traders are showing more interest in betting on price increases than protecting against drops.
This kind of negative skew reflects a growing risk appetite. Historically, when the skew ranges between -4% and -9%, it often coincides with strong upward momentum in the spot market.
Current pricing dynamics suggest that Bitcoin traders are positioning for upward movement and showing a clear willingness to pay a premium for upside exposure. This shift not only reinforces confidence in the ongoing rally but also reflects the underlying strength of market sentiment.
If the negative skew continues, it may serve as confirmation that the options market remains aligned with the bullish momentum seen in spot prices. In these conditions, derivatives often react before the actual price moves, serving as an early signal of what may come next.
As Bitcoin’s price action, options trading, and market sentiment begin to align, it becomes clear that the market is entering a phase where optimism is starting to outweigh fear.
