Odaily Planet Daily reports that Glassnode posted on X that the Bitcoin options market has recently shown more positive signals: data indicates that expected market volatility is rising, short-term panic sentiment is easing, and bullish option positions continue to dominate.
Data shows that BTC options implied volatility (IV) is currently about 10% higher than realized volatility (RV), ending several weeks during which RV consistently exceeded IV, indicating that markets are once again pricing in a premium for future uncertainty. However, current volatility levels have not yet reached extreme levels of tension.
Regarding option skew, hedging demand for short-term options has significantly declined, with the 1-week 25Delta skew dropping to approximately 7%. However, longer-dated option skew remains around 10%-12%, indicating that investors continue to hedge against medium- to long-term downside risk.
In terms of open interest, Bitcoin options remain significantly skewed toward call options. Currently, the open interest value of call options is approximately $15 billion, higher than that of put options at around $10 billion. Even after recent expiries, call positions continue to hold an advantage.
In terms of capital flow, options trading was primarily concentrated in the $61,000 to $67,000 range, with active buying of $65,000 call options accompanied by selling of put options, indicating an improvement in short-term market trading sentiment.
Analysis indicates that the current BTC options market reflects a "cautiously optimistic" sentiment: short-term panic is subsiding, bullish positioning remains dominant, but long-term hedging demand persists, as investors have not fully abandoned risk protection.