Bitcoin options price at five-year low, Ethereum options market now shows bearish signal

10x Research indicates that the price of Bitcoin options is at a five-year low, with an implied volatility of 33.5% in recent months, which is more than 4 percentage points lower than the actual volatility. Traders buy put options with exercise prices of $78000 and $80000 due in October, with a maximum single block trade size of $204 million. Investors hedge their risks while maintaining long positions. The Ethereum options market presents different signals, with the largest corporate buyers stopping buying within a few weeks and trading dominated by call option sellers, with implied volatility higher than actual volatility.