According to Glassnode, BTC options 25-delta skew had been normalizing over the past month before the 90K retest reignited downside demand; source: Glassnode on X, Jan 9, 2026; glassno.de/3LrpW8o. The 1-week skew now sits near 8.2 percent, favoring puts and reflecting short-term downside hedging; source: Glassnode on X, Jan 9, 2026; glassno.de/3LrpW8o. This indicates bearish skew remains in place for BTC options around the 90K area in the near term; source: Glassnode on X, Jan 9, 2026; glassno.de/3LrpW8o.