"Short-Term Sharp Movement Warnings Are Increasing in Bitcoin"

In recent days, the ongoing decline in Bitcoin prices has deepened concerns among market participants. The pricing observed in Bitcoin options is warning investors of sharper movements. In this period of increasing selling pressure, clear signs of panic are being observed on the options side.

According to Glassnode data, the implied volatility (IV) of Bitcoin options expiring tomorrow has reached 95%. This demonstrates that market stress has intensified, with a 40 vol point increase in just one day. Notably, the rapid increase in one-week volatility compared to one-month volatility indicates that panic pricing is concentrated in the short term.

Another noteworthy aspect is the widening of the 25D skew in favor of put options across all maturities. This situation proves that investors are pricing in downside risk not only in the short term but also in the medium and long term. The fact that 67.6% of transactions in the past week were on the put side indicates aggressive hedge searches as well as strategies aiming to benefit from volatility.

Additionally, put options with short and medium-term maturities at the $75,000 level have seen significant interest following Bitcoin's decline below $94,000. This suggests that the options market has not yet seen a dip signal and that the possibility of deeper retracement remains.

In summary, the market has entered a phase with high immediate risks and the potential for a greater breakdown is continuing. It is critical for investors to pay attention to short-term volatility increases and options data to prevent possible losses.