According to Wu Blockchain, Glassnode data shows that defensive positions in the BTC options market are weakening. The market-wide options open interest put/call ratio has dropped from about 0.76 at the end of June to around 0.52, indicating a relative increase in open interest for call options as investors reduce their previous defensive allocations. Meanwhile, the implied volatility for at-the-money BTC 1-week options is approximately 34.3%, lower than the 40.8% for 6-month options. The 1-week 25 Delta skew has fallen to around 4%, while the 3- to 6-month skew remains at 11% to 12%, suggesting that the demand for hedging short-term downside risks has weakened, but there is still a defensive premium for medium- to long-term uncertainties. https://(wublock123.com)/news/glassnode-btc-options-defensive-positions-weakened-oi-put-call-ratio-0-52-65259