Despite easing volatility post-ceasefire, Bitcoin options show persistent defensive bias with put premiums down but downside protection still bid at 12%.

According to @glassnode, the 25 delta skew for Bitcoin options has shifted back to the 15–20% range after a rejection at the 75K level. This indicates renewed demand for downside protection, as evidenced by higher put premiums, signaling increased caution among traders following the failed breakout.