Glassnode: Bitcoin Options Skew Turns Bearish

Glassnode data shows Bitcoin options skew turning bearish not from heavy downside protection but from upside implied volatility crashing to an all-time low of 23%.

Traders have stopped paying for $BTC upside entirely even as global markets printed records while Bitcoin remained flat over the past six months.

Price action on the 4h chart sits at $64471.72 inside the Bollinger bands with upper resistance at $65165.97 and lower support at $63065.53. The bullish EMA50 at $64003.61 and EMA200 at $63650.37 act as layered support while MACD holds a golden cross at 292.61 and RSI at 56.25 stays neutral, pointing to a likely test of the 50-EMA before any continuation higher. This setup aligns with BTC price prediction models that factor in compressed volatility regimes rather than outright crypto market crash signals.