“The metrics have become very negative for the near future,” QCP Capital experts shake their heads. “It indicates nervousness.”
Traders are now buying put options ahead of expiration, which is scheduled to take place on April 18, 2024. The put-to-call ratio rose to 1.04. A coefficient above one demonstrates a bias towards put options, which is an indicator of the dominance of bearish sentiment among market participants.
According to analysts at QCP Capital, expectations have worsened due to macroeconomic conditions, weakness in the US stock market, and fears of an escalation of armed conflict in the Middle East.
Earlier, Bloomberg Intelligence senior analyst Eric Balchunas said that the importance of the approval of spot cryptocurrency ETFs in Hong Kong should not be exaggerated.
Source: Bits
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