According to Glassnode, the 1W skew dropped from 8% to 1% while the 1M 25 delta skew only moved from 7% to 4% at the low, remaining in put asymmetry where downside risk stayed priced based on Glassnode data. Glassnode indicates that longer tenor skew holding a put premium suggests stickier demand for protection and a slower normalization of downside pricing beyond the front week, a setup traders can factor into hedging and options positioning.

According to Glassnode, the options volume put call ratio fell from 1 to 0.4, signaling strong call flow in crypto derivatives. According to Glassnode, the key issue for traders is how short dated the call demand was, rather than whether calls were bought. According to Glassnode, understanding the tenor of this call activity is crucial for assessing how concentrated the flow is around near expiries and its potential impact on positioning dynamics.

According to @glassnode, the volume put call ratio and divergence across option skews confirm real upside demand concentrated in front-end expiries, with flows focused in short-dated crypto options while risk was not repriced across maturities. source: @glassnode tweet https://twitter.com/glassnode/status/2014655280198373525 According to @glassnode, this indicates upside buying pressure in near-term maturities while longer-dated implied volatility and skew remained anchored relative to the front end. source: @glassnode tweet https://twitter.com/glassnode/status/2014655280198373525, source: glassno.de/4pXThWi

According to @GreeksLive, from January 12 to January 18, 2026, its platform executed $142,528,550 in notional trading via block trades and published a summary of the top five block deals for the week. source: @GreeksLive on X, Jan 19, 2026 Block trades are privately negotiated, large-size transactions commonly used by institutional participants, making this weekly total a useful gauge of institutional activity in crypto options. source: CME Group, Block Trades overview Large negotiated options flows can influence order book liquidity and implied volatility, so traders often monitor subsequent IV and spreads against these prints. source: Deribit documentation on block trades and options markets

According to @glassnode, the 1-week implied volatility heatmap has shifted toward colder colors over the past two weeks, marking the lower end of recent IV ranges for short-dated options; link: glassno.de/49GFUDI; source: @glassnode. According to @glassnode, the cooling is broad-based across calls and puts and across all deltas, indicating it is not confined to one side of the options book; source: @glassnode.

According to @glassnode, crypto options implied volatility is compressing again across maturities, signaling less demand for crash protection and aggressive upside hedges while keeping the volatility curve under pressure, source: @glassnode. Short-dated IV still reacts to spot moves, but spikes are quickly sold, maintaining subdued volatility across the term structure, source: @glassnode.

According to @justinsuntron, TRX options are now live on Deribit, confirming that traders can execute TRX options strategies on the exchange (source: @justinsuntron). This listing establishes an exchange-traded options market for TRX on Deribit, adding a new derivatives instrument for TRX market participants on that venue (source: @justinsuntron). Traders now have direct access to TRX option contracts on Deribit as announced in the post (source: @justinsuntron).

According to @glassnode, upside implied volatility in crypto options is showing a similar pattern, with call sellers emerging near the local top as price momentum slowed, source: @glassnode. This call-selling to harvest yield is capping aggressive upside expectations in the near term, source: @glassnode.

According to @glassnode, the 1-week volatility risk premium in crypto options remains positive by roughly 10 vols, favoring volatility sellers (source: @glassnode). According to @glassnode, the spread between implied and realized volatility has compressed as realized volatility rises, falling from about 24 vols three days ago to around 10 vols now (source: @glassnode). According to @glassnode, this indicates implied volatility remains above realized on a 1-week basis but with a significantly smaller margin than earlier this week (source: @glassnode).

According to @QCPgroup, Bitcoin’s annualized volatility has compressed from roughly 250% in 2017 to about 40% by 2025, highlighting a maturing, institution-ready market (source: @QCPgroup). According to @QCPgroup, broader adoption across collateral use, payment rails, and portfolio allocation is driving this structural shift in BTC market behavior (source: @QCPgroup). According to @QCPgroup, deepening market liquidity is fueling demand for risk-managed exposure, options, and structured strategies, signaling increased focus on options-based trading frameworks for BTC (source: @QCPgroup). According to @QCPgroup, these insights were shared by founder Darius Sit in Straits Times CEO Insights and summarized on QCPgroup’s insights page (source: @QCPgroup).

According to @glassnode, the 25-delta skew (put IV minus call IV) remains positive, indicating puts are priced richer than calls, keeping downside risk embedded in options pricing, source: Glassnode, Dec 19, 2025, glassno.de/4oZf2o9. According to @glassnode, this skew profile does not resemble the pattern typically seen ahead of a clean breakout attempt, which signals a cautious market tone rather than a momentum-ready setup, source: Glassnode, Dec 19, 2025, glassno.de/4oZf2o9.

According to glassnode, implied volatility has declined across the curve, signaling weaker demand for near-term hedges and upside leverage while the market prices more contained price action (source: Glassnode, Dec 19, 2025). ATM IV is now around 44% across tenors, more than 10 vol points lower than recent highs, indicating a broad-based volatility compression (source: Glassnode, Dec 19, 2025). Lower IV translates into cheaper option premiums versus recent weeks, reducing hedging costs for buyers and premium income for sellers based on standard options pricing mechanics (source: Glassnode, Dec 19, 2025; source: Black-Scholes options pricing). With upside leverage demand easing, short-dated calls are priced more conservatively, and positioning tends to favor range-bound strategies over breakout bets unless volatility re-expands (source: Glassnode, Dec 19, 2025). Cross-tenor softness suggests traders should benchmark strategies against realized volatility and term exposure as the curve prices tighter ranges (source: Glassnode, Dec 19, 2025).

According to @glassnode, the 1-week volatility risk premium has remained positive since the latest FOMC, indicating implied volatility is above realized volatility and supporting carry from short-volatility positioning. source: @glassnode on Dec 19, 2025, glassno.de/4oZhPhj This regime favors volatility sellers as IV continues to compress into year-end, with hedging flows helping keep realized moves contained. source: @glassnode on Dec 19, 2025, glassno.de/4oZhPhj

According to @glassnode, it introduced a taker-flow-based Gamma Exposure (GEX) metric that reveals how dealer hedging in crypto options can shape volatility regimes and influence price behavior around key levels (source: @glassnode). The firm states the flow-based GEX is designed to help market participants understand regime conditions and level sensitivity driven by options hedging activity (source: @glassnode).

According to @glassnode, after the latest FOMC event, crypto options implied volatility has compressed, downside risk remains consistently priced, and skew plus flow data point to expectations of limited upside, range-bound trading, and continued sensitivity to macro drivers rather than new policy catalysts; source: @glassnode, Dec 12, 2025.

According to @glassnode, the options open interest put/call ratio has been rising over recent weeks, indicating a build-up in put positioning (source: @glassnode, Dec 12, 2025). According to @glassnode, even after the FOMC meeting, activity stayed skewed toward puts, signaling continued demand for downside protection (source: @glassnode). According to @glassnode, this morning’s expiry pushed the ratio lower as post-meeting hedges rolled off, reducing the put-heavy skew in open interest (source: @glassnode).

According to @glassnode, DVOL—described as a single-number snapshot of implied volatility—fell immediately after the referenced event. Source: @glassnode on X, Dec 12, 2025; glassno.de/4pFLFIS. This drop often indicates volatility supply returning and less urgency among traders to hedge or seek upside exposure, a key shift for crypto options positioning. Source: @glassnode on X, Dec 12, 2025; glassno.de/4pFLFIS.

According to @glassnode, it launched an Implied Volatility Heatmap to illustrate volatility and sentiment regimes by tracking how call and put implied volatilities have been priced over time. Source: Glassnode on X Dec 5, 2025 https://x.com/glassnode/status/1996966471209975885; https://x.com/glassnode/status/1996973646162629104; Product page https://glassno.de/48Gquiw. @glassnode stated that while 25-Delta Skew is widely used in crypto options, it compresses a richer volatility surface, and the new Interpolated IVs display how risk is priced across deltas and maturities. Source: Glassnode on X Dec 5, 2025 https://x.com/glassnode/status/1996966471209975885; https://x.com/glassnode/status/1996973646162629104; Product page https://glassno.de/48Gquiw. @glassnode confirmed coverage for BTC, ETH, SOL, XRP, and BNB, enabling traders to monitor cross-delta and cross-maturity IV dynamics, skew, and expected movement on calls and puts across these markets. Source: Glassnode on X Dec 5, 2025 https://x.com/glassnode/status/1996966471209975885; https://x.com/glassnode/status/1996973646162629104; Product page https://glassno.de/48Gquiw.

According to @glassnode, the 25-delta options skew remains positive, keeping the market in put territory (source: @glassnode, Dec 5, 2025, glassno.de/3KctQSg). According to @glassnode, this indicates options markets still price risk of prolonged bearish action (source: @glassnode, Dec 5, 2025, glassno.de/3KctQSg). According to @glassnode, the current skew profile is not the type that typically signals a breakout attempt, implying traders should not infer imminent upside from skew alone (source: @glassnode, Dec 5, 2025, glassno.de/3KctQSg).

According to @GreeksLive, on the first weekly settlement day of December there is limited activity in expiring weekly options, with market focus primarily on year-end settlements (source: @GreeksLive, Dec 5, 2025). According to @GreeksLive, positions held through the end of December account for over half of total open interest, highlighting a concentration in year-end expiry positioning (source: @GreeksLive, Dec 5, 2025).