Deep Tide TechFlow News, December 22, Matrixport published an analysis stating that as of December 22, 2025, the options skew (25Δ Delta Skew) for BTC and ETH, although still in negative territory, has recently rebounded, indicating that market pessimism is cooling down. Since late August, the options skew for the two major cryptocurrencies has remained negative, reflecting a long-term preference for pricing protection against downside risk, with put options showing relatively higher implied volatility. A horizontal comparison shows that the skew for BTC is generally weaker than that of ETH, especially when the skew deepened in mid-November, reflecting significant market pressure at that time. Although the skew has recently repaired somewhat, the market pricing focus still leans towards downside risk, and reversal signals are still insufficient.