Recent data from Kaiko reveals a decrease in the put-call ratios for Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH), signaling reduced bearish sentiment among traders.
Previously elevated in May, these ratios have retreated as market participants anticipate potential price recoveries.
Bitcoin, after a sharp drop in late June to around $50,000, has seen its ratio fall to approximately 0.5 from earlier highs.
Ethereum, buoyed by excitement over upcoming spot ETF launches, shows a similar trend despite trading below $3,700.
The decline in these ratios suggests a shift in market sentiment, though short-term cautiousness remains amidst ongoing price volatility and regulatory developments.