The sentiment in the cryptocurrency market has cooled down, and there is no panic buying in the options market

Bitcoin and Ethereum have been under pressure since their gains were blocked last Monday, but the options market has not shown that traders are eager to buy downside protection. Skewness indicators show that put options are slightly more expensive than call options, but have not reached historical levels. Laeviats referred to this as skewed regression, rather than centralized buying of put options. Bitcoin's 7-day skewed week over week ratio is at the 92nd percentile of the 52 week range, with downside protection at historically cheap levels. Ethereum call options are still more powerful than put options, but the premium has narrowed compared to a week ago. (Source: CoinDesk)