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).