[10x Research: Bitcoin Options Prices at Five-Year Lows, Investors Remain Bullish and Actively Hedge Risks] Odaily Planet Daily News - 10x Research published an article stating that Bitcoin options prices have dropped to their lowest levels in five years, with near-term implied volatility at 33.5%, over 4 percentage points lower than realized volatility, indicating relatively cheap options pricing. Over the past week, Bitcoin options skew has decreased by nearly 3 percentage points, with traders focusing on purchasing October-expiry put options with strike prices of $78,000 and $80,000. The largest single block trade reached a scale of $204 million. 10x Research believes this suggests that investors overall still hold long positions while using options to hedge downside risks, rather than fully turning bearish. In contrast, the Ethereum options market is showing different signals. Its largest institutional buyer has indicated plans to stop purchasing within weeks, with options trading dominated by call option sellers, and implied volatility higher than realized volatility.