According to QCPgroup, options flow data indicates that traders are positioning tactically bullish on BTC, focusing on 29AUG25 call flys at the 118k, 124k, and 126k strike prices, with the maximum payoff at 124k. The current put skew remains elevated, suggesting ongoing caution, but has not reached panic levels. A move in BTC price back above 115k could help normalize the skew, potentially impacting near-term volatility and directional bias. Source: QCPgroup.

According to @GreeksLive, the current put skew suggests that a significant number of traders are holding long put positions. This indicates a bearish sentiment in the market, as traders are anticipating potential declines in asset prices. Monitoring this trend could provide valuable insights for trading strategies.