Glassnode: BTC options market maintains overall defensive posture According to Foresight News, Glassnode tweeted that as BTC falls below its multi month range and tests its February low, options market data shows multiple defensive signals appearing simultaneously. The one week implied volatility (IV) once approached 60%, a significant increase from last week's around 30%, and the long-term limit volatility also rose across the board; The Skew of 25D has significantly increased, with a weekly Skew of up to 30% and a monthly Skew of over 23%, indicating a continued strong demand for downward protection in the market; The premium of call options has been eroded in both the short and long term, with put option purchases dominating the flow of funds over the past 7 days, accounting for 31.5% of the premium trading volume; Within one month, the IV has risen to over 40%, while the realized volatility remains around 35%, and the volatility risk premium has expanded to its highest level in weeks. In addition, the maximum negative Gamma concentration area is located at $65000, and BTC is currently in a wide bearish Gamma corridor, which may amplify price fluctuations through market makers' hedging operations. Glassnode concluded that the overall positioning of the options market remains defensive.