On-chain analytics firm Glassnode stated that the skew in the Bitcoin options market (the difference in implied volatility between call and put options) is indicating a bearish signal. It added, "While the Bitcoin options market shows a bearish sentiment, this is interpreted as a significant weakening of upward expectations rather than an an increase in fear of decline. Downward implied volatility (IV) also remains low, but what is even more extreme is upward implied volatility. Upward implied volatility has fallen to an all-time low of 23%. Currently, there are almost no investors willing to bet on Bitcoin's upward potential in the market," it explained.
