Bitcoin options traders reduce exposure amid uncertain market conditions

Bitcoin options market's put/call open interest ratio has decreased from 0.64 to 0.56, according to on-chain analytics firm Glassnode on X. This shift reflects a drop in call open interest from $28.7 billion to $24.7 billion and a decline in put open interest from $18.4 billion to $13.9 billion. Although call options—bets on price gains—still dominate, the overall reduction in both puts and calls indicates a weakening of market confidence during volatile price movements.