Bitcoin's put-call ratio has climbed to a one-year high, signaling rising bearish sentiment amid persistent ETF outflows. Despite lower oil prices that could support risk assets, Bitcoin remains weak as bears eye a potential drop to the $55,000 support level.
According to Cointelegraph, Bitcoin's put-call ratio has hit a one-year high, indicating a significant increase in demand for put options. Concurrently, spot Bitcoin ETFs continue to experience net outflows, further amplifying bearish sentiment. While lower oil prices could provide some support for risk assets, Bitcoin remains notably weak. Analysts suggest bears are positioning for a potential breakdown below the $55,000 level, which could trigger a deeper correction.
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