$BTC options traders are increasingly paying a record-high premium to hedge against potential downside risks. Data shows the put/call open interest ratio has climbed to 0.84, its highest level since June 2021. Over the past month, spending on put options surged to about $685 million, while call option premiums declined by roughly 12% to nearly $562 million.

At the same time, market volatility has eased, with realized volatility dropping from around 80 to 50. Futures funding rates have also decreased to 2.7%, indicating reduced bullish sentiment and a more cautious outlook among traders.#BTC #BitcoinNews