Despite Bitcoin's slight rebound, the options market is still preparing for downside risks, on-chain analytics firm Glassnode reported via its official X account. Glassnode stated, "The options market is still repricing the risk of BTC. While the DVOL (Deribit Volatility Index) is on an upward trend due to recent price declines, it is not as extreme as during past major market shocks. This indicates increasing uncertainty. As put options are receiving a premium over call options, many investors appear to continue to have demand for downside protection. Market makers' hedging activities could further amplify price volatility."
