According to a report by CoinDesk on January 27th, BlockBeats noted that on Deribit, put options for BTC and ETH are generally priced higher than call options, indicating lingering concerns about downside risk. Analysts believe that downside protection has become crowded trading, making call options relatively cheaper for bullish investors.
In terms of directional positioning, put spreads, volatility bets, and short-biased strategies such as straddles and wide straddles accounted for nearly 50% of all Bitcoin options trading in the past 24 hours. For Ethereum, traders preferred the "iron condor" strategy to profit from potential range-bound trading.
Meanwhile, Volmex's 30-day implied volatility index for Bitcoin and Ethereum remains at multi-month lows, indicating that despite bearish fund flows and technical charts, there is no significant panic or fear in the market.
