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.