Some analysts have turned bearish on Bitcoin, predicting a steep price decline. However, data from the perpetual futures and options markets reveals a different storey. When looking at a larger set of data, there is no indication that major participants are planning a surprise negative move. On May 20, the ratio at OKEx hit a low of 3.5, favouring longs, but it immediately rebounded to 5.5. Bitcoin gained 64 percent in the next 30 days.