Matrixport: Bitcoin hidden wave and skewness show that market risk aversion is heating up

Matrixport released today's chart saying, "The implied volatility skewness of bitcoin options has weakened further in the past week. The short-term skewness has widened from about -3.5% last week to -10.6%, and the demand for short-term downside hedging has increased significantly. The long-term skewness has decreased from about -0.2% to -1.9%. The pricing of longer-term tail risk has also become pessimistic. From the perspective of option pricing, the market's pricing of downside risk has increased in the past week, reflected in both short-term options and contracts expiring next year. The current implied volatility has climbed to about 58%, corresponding to higher near-end downside risk premiums and more cautious medium-term expectations than a week ago, indicating that the market is not treating this round of volatility as a one-off shock. "