Glassnode says Bitcoin options sentiment is improving as the one-week 25-delta skew drops to about 7%, signaling calmer near-term nerves. Longer-tenor skew remains around 10%–12%, keeping downside hedges in demand. BTC call open interest stands near $15 billion versus $10 billion for puts, with positioning concentrated in the $61,000–$67,000 strike range and notable buying of $65,000 calls. Traders are turning more constructive without ditching protection.
Bitcoin options are seeing a gradual shift in tone. Glassnode said the market's sentiment is improving, with the one-week 25-delta skew falling to roughly 7%. That marks a clear retreat in short-term downside skew, a sign that recent panic has eased.
The picture is less one-sided further out. Longer-tenor skew is still hovering near 10%–12%, so demand for downside protection has not gone away. Open interest data points the same way: BTC call options carry around $15 billion in open interest, versus about $10 billion for puts. Recent positioning has clustered around the $61,000–$67,000 strike range, with noteworthy buying of $65,000 calls.
Glassnode concludes that traders are positioning more aggressively, but they have not abandoned hedging entirely.
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