Bitcoin touches $86k as options open interest put/call ratios rise while long leverage rebuilds slowly, still below prior frothy peaks with muted perp funding.

Bitcoin drops to $60K as profitability collapses, realized losses accelerate and institutional demand weakens with options pricing elevated risk.

Bitcoin hits $70,992 low on Deribit with $70,000 now key GEX cluster; near-term ATM IV at 30% as options market awaits breakout.

Bitcoin grinds higher at $77,799, but options market reveals muted speculation and low upside demand, offering cheap leverage for bulls amid bullish trend.

According to @glassnode, 25-delta skew remains firmly in put territory and is compressed around 10% across option tenors. According to @glassnode, even as implied volatility declines, puts are priced richer than calls, signaling persistent demand for downside protection.

According to @KobeissiLetter, total quarterly options volume exceeded 3.5 billion contracts for the first time in Q3 2025, and total options contracts traded have doubled over the last five years, source: @KobeissiLetter. Retail investor participation reached a record 55 percent last quarter, up roughly 10 percentage points since 2023 and above the five-year average near 49 percent, source: @KobeissiLetter. During last week’s market pullback, retail flows ranked among the largest buy-the-dip events on record, source: Citadel as cited by @KobeissiLetter. For crypto market participants, this surge in retail options activity is a timely cross-asset sentiment input to monitor, source: @KobeissiLetter.