CoinVoice has recently learned that Matrixport released a chart stating that since late August, the skew of BTC and ETH options has consistently remained in negative territory, with the market's pricing for downside protection being dominant for an extended period; the implied volatility of put options is relatively higher, and overall sentiment is cautious.

In horizontal comparison, the skew of BTC is generally weaker than that of ETH. The skew deepened in mid-November, reflecting a phase of market pressure, with a noticeable increase in demand for put options and a rise in risk-averse sentiment. Although the skew has recently rebounded, it still remains in negative territory, and the pricing focus of the options market continues to lean toward downside risks, with insufficient pricing for reversals. The repair of skew also indicates a cooling of pessimistic sentiment, and the degree of bearishness in the market has somewhat eased.[Original link]