[Analysis: Despite Cooling Sentiment in the Crypto Market, Traders Have Not Panicked] According to CoinDesk, despite the cooling sentiment in the crypto market, traders have not panicked. Major cryptocurrencies like Bitcoin and Ethereum have been under pressure since their upward trend was interrupted last Monday, but the options market has yet to show traders rushing to buy downside protection. Skew indicators show that put options are slightly more expensive than call options, but far from reaching typical historical levels. Data analytics firm Laeviats stated that this is a skew reversion rather than a concentrated purchase of put options. Bitcoin's 7-day skew's week-over-week change is in the 92nd percentile of its 52-week range, relative to a median of -4.41v, indicating that downside protection remains historically cheap. For Ethereum, call options are still more expensive than put options, but the premium has narrowed compared to a week ago, reflecting a cooling in bullish sentiment.