ProCap CIO: Bitcoin put option open interest (OI) volume is large at the end of December, implied volatility returns to pre-ETF listing levels.

According to Mars Finance, Jeff Park, Chief Investment Officer of Bitcoin Treasury ProCap and advisor at Bitwise, analyzed that Bitcoin's implied volatility has never exceeded 80% since the FTX crash. The closest it came was last March when the spot Bitcoin ETF experienced continuous inflows, but now the indicator has returned to pre-ETF listing levels. Furthermore, data disclosed by Jeff Park shows that among Bitcoin options expiring on December 26th, the $85,000 put option open interest (OI) is the largest, approximately $1 billion, higher than the $125,000 call options ($620 million), $140,000 call options ($950 million), and $200,000 call options ($720 million).