BlockBeats News, August 7th, Glassnode released a market insight stating that the Bitcoin options market sentiment is improving. The short-term downside skew has significantly receded, with the 1-week 25 Delta Skew dropping to around 7%, indicating a recent easing of panic. However, the skew for longer maturities still remains at around 10%–12%, indicating a continued demand for downside protection.

Currently, BTC call options have an open interest of around $15 billion, higher than the put options with approximately $10 billion. Recent funds are mainly concentrated in the $61,000 to $67,000 range, with a notable influx of call options at $65,000. Glassnode believes that the market is shifting towards a more bullish stance but has not yet abandoned risk hedging.