EL7.AI
CryptoUpdated×3•Originally published 18 July 2026•Updated 18 July 2026•
1 min read

Bitcoin Put/Call Ratio Hits Six-Month Low as Trader Optimism Surges

Key Facts

1The Bitcoin Put/Call ratio dropped to 0.59, indicating a dominance of call options over put options in the market.
2Bitcoin's implied volatility index (DVOL) recorded a drop from 48 to 40 points as prices recovered.

Amid easing price turbulence in the cryptocurrency market, options data reveals a significant bullish shift as the Bitcoin Put/Call ratio dropped to 0.59, its lowest level in six months. According to analyst reports, Bitcoin's implied volatility index (DVOL) recorded a decline from 48 to 40 points as prices recovered, indicating a dominance of call options and a move away from defensive hedging by market participants.

This improvement in sentiment follows a period of selling pressure observed in June, with market experts noting that the lower ratio reflects investor positioning for a continued recovery. Compared to other digital assets, data from platforms like Deribit shows that Bitcoin's historical volatility has begun to stabilize below the peaks seen in Q1, enhancing the appeal of institutional long positions.

Looking ahead, the compression in volatility suggests a potential consolidation phase before any future price breakout. While authoritative real-time price levels are currently unavailable, traders are monitoring macroeconomic catalysts; recent economic calendar data showed the U.S. annual inflation rate cooling to 3.5% (as of July 14, 2026), a trend that typically supports risk-on assets like BTC.

Latest Updates · 3

  1. Notable·

    Update: While Bitcoin spot prices have remained largely stagnant in recent sessions, institutional activity in the derivatives market is surging. This shift indicates aggressive positioning by large-scale traders ahead of the upcoming Federal Reserve meeting, as market participants brace for potential volatility surrounding the central bank's next policy move.

  2. Notable·

    Update: This optimistic outlook is further supported by new data showing the Bitcoin short-term holder cost basis has fallen to $69,000, establishing a key technical support level. Additionally, technical indicators suggest the market may be exiting a 9-month bear cycle, potentially clearing the path for long-term price stability.

  3. Notable·

    Update: This optimistic outlook is further supported by continued positive inflows into spot Bitcoin ETFs throughout the current week. Per market data, BTC is trading at the $63,960 level, while Ethereum is priced at $1,845 (as of July 17, 2026 close).