BTC options market remains in downside hedge phase despite rebound

Despite a slight rebound in Bitcoin's price, the options market continues to show signs of hedging against downside risk, on-chain analytics firm Glassnode said on its official X account. Glassnode explained that the options market is still in a phase of "repricing of risk." While the Volatility Index (DVOL) is on an upward trend following the recent price decline, it is not as extreme as during past major market shocks, suggesting growing uncertainty. With put options trading at a premium to calls, it appears many investors continue to demand downside protection. The firm also noted that hedging activities by market makers could further amplify price volatility.