Data: The ratio of put options to call options for contracts expiring on January 19th exceeds 1

This Wednesday is the final deadline for the U.S. Securities and Exchange Commission to decide whether to allow exchange-traded funds to directly hold digital assets. Prior to this, Bitcoin options traders have already begun locking in profits. In the past 24 hours, market participants have seen a surge in sell orders for short-term bullish option contracts. According to data compiled by Deribit, the put-to-call ratio of contracts expiring on January 19th now exceeds 1, much higher than two weeks ago. Some traders are buying more put options to reduce the risk of negative outcomes from spot Bitcoin ETFs around the SEC's January 10th deadline, which could further push up this ratio. The put-to-call ratio is often viewed as an indicator of market sentiment; the higher this ratio, the more bearish traders are on prices.