Not directly related. Futures require a long for every short. So they essentially zero out (so you can’t even gauge sentiment from them).
Where they become tricky is that since CBOE and CME futures are cash settled, one can play two markets at once: a whale BTC holder can take short positions with cash, sell their stack before options expiry and profit on the downward price trajectory if they have enough BTC to move the price down. The same can done for moving upwards too (take a long position then buy a boatload of BTC before expiry).