Analysis: Option traders are betting that Bitcoin prices will fall after halving

Bitcoin will halve the third block reward next month. The bulls believe that assuming demand remains unchanged, halving will push up the price of Bitcoin. However, option traders are buying put options or putting bets and pushing up the put / call option ratio of Bitcoin. According to the data provided by crypto derivatives research firm Skew, the ratio rose to 0.61 on Monday after bottoming out at 0.42 on March 24, the highest level since February 27. Skew CEO Emmanuel Goh said that the number has risen from 0.42 to 0.61 in the past three weeks, indicating that people are increasingly concerned about hedging the downside risks of Bitcoin prices.