BIT: BTC options see easing downside fears, but rebound hinges on $62K

Concerns over extreme downside risk in the Bitcoin options market are gradually easing, according to crypto options trading platform BIT (formerly Matrixport). The platform noted that while the negative spread of the option skew—the difference in implied volatility between call and put options—has widened again, this could be part of a trend toward forming a higher low. However, a rebound is contingent on Bitcoin maintaining the $62,000 support level. BIT suggested that current market participants hold relatively small positions, which should limit further selling pressure. The trend in the options market this week will be critical, as a narrowing of the negative option skew could revive Bitcoin's upward momentum. Geopolitical risks and rising U.S. Treasury yields remain the primary macroeconomic risks, BIT added.