Analyst: Bitcoin call options concentrated above $60,000, showing bullish sentiment after halving

Bitcoin call options are concentrated at strike prices above $60,000 for the June-end expiry, according to Deribit data. Analysts say call options above $60,000 are relatively overbought in anticipation of Bitcoin’s halving. One analyst noted that Bitcoin options are showing bullish sentiment following the halving, as evidenced by the call-to-put ratio and strike price positioning for the June-end expiry. "The June expiration is a good gauge of halving sentiment. Our chart shows more upside positioning. June's call to put ratio is significantly lower at 0.28 compared to March's 0.55, and the execution price positioning Also higher," said Luuk Strijers, Chief Commercial Officer of Deribit. A call-put ratio less than 1 implies bullish sentiment, indicating greater interest in potential upside (call options). In contrast, a call-to-put ratio greater than 1 generally indicates bearish sentiment, indicating greater interest in downside protection (put options). (The Block)