Viewpoint: Bitcoin option premium shows that the market tends to believe that it will enter a phase of volatility contraction

According to BlockBeats, on August 19th, Glassnode announced that last Friday's Bitcoin option premium hit a record high of approximately $226 million (of which about 69% were call options), indicating that both long and short sides are repricing risk. On Monday, the premium dropped sharply to about $18 million, with put options mainly being sold, while call options remained largely unchanged - protective demand weakened; The market tends to believe that it will enter a phase of stabilization/volatility contraction.