Metric analysis

This Overlooked Metric Indicates Smart Money Isn’t Betting on the Big Bitcoin (BTC) Collapse, According to InvestAnswers

The host of a leading crypto analytics chain claims that “smart money” is betting on the price of Bitcoin (BTC) to improve.

In a new YouTube video, the host of InvestAnswers analyzes a graph depicting outstanding options contracts on BTC through March 25 for its 413,000 followers.

“The max pain is $42,000, and the heavy bets are on the right, which means a lot of call option buying, and beyond where we are today.

When you hear people on YouTube calling for $10,000 Bitcoin, that’s not where the smart money is placing its bets.

The analyst indicates that there are 34,811.1 call option contracts on Bitcoin against 21,343.4 put option contracts. Call buyers benefit from price increases while sell buyers benefit from price declines. According to the analyst, the current Put/Call ratio of 0.61 is a positive sign for Bitcoin’s future price action, which he apparently views as “bullish from here.”

“That’s extremely bullish compared to where we were before.”

Source: InvestAnswers/YouTube

Bitcoin is trading for $37,328.24 at the time of writing. The top-ranked crypto asset by market capitalization is down more than 2% in the past 24 hours and more than 15% from its price a week ago.


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Featured Image: Shutterstock/d1sk/Natalia Siiatovskaia