ChainCatcher report: Glassnode’s market insights indicate that sentiment in the Bitcoin options market is improving, with a notable decline in short-term downside skew—the 1-week 25 Delta Skew has dropped to approximately 7%, signaling reduced near-term panic. However, longer-dated skew remains elevated at around 10%–12%, reflecting continued demand for downside protection. Currently, open interest in BTC call options stands at approximately $15 billion, higher than the $10 billion in put options. Recent capital inflows have been concentrated in the $61,000 to $67,000 range, with a clear spike in purchases of $65,000 call options. Glassnode believes the market is shifting toward more bullish positioning, but has not abandoned risk hedging.
Bitcoin options sentiment improves, with sustained high demand for long-term downside protection.
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Summary
Bitcoin options sentiment is improving, with short-term downside skew at 7%, while long-term skew remains at 10%-12%, indicating sustained demand for long-term investments. Call options open interest stands at approximately $150 billion, exceeding puts at $100 billion. Recent buying activity is concentrated between $610,000 and $670,000, with strong volume at the $650,000 call strikes. The market is trending toward bullish positions but continues to prioritize risk management, reflecting a balanced long-term crypto strategy.
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