Matrixport: BTC and ETH options market bearish sentiment has eased

Matrixport released a chart saying that since late August, the option skewness of BTC and ETH has been in a negative range. The market has long dominated the pricing of downside protection. The implied volatility of put options is relatively higher, and the overall sentiment is cautious. Horizontal comparison, the skewness of BTC is generally weaker than that of ETH. In mid-November, the skewness deepened, reflecting the market pressure stage, the demand for put options has increased significantly, and risk aversion has heated up. Although the skewness has rebounded recently, it is still in a negative range. The pricing center of the options market is still biased towards downside risks, and the reversal pricing is still insufficient. The repair of the skewness also means that pessimism is cooling down and the degree of market bearishness has eased.