According to @glassnode, Bitcoin's options delta skew has turned mildly bullish, indicating a shift in trader sentiment towards potential BTC price upside. Additionally, the volatility spread has surged by 77%, suggesting increasing market uncertainty and potential for larger price swings. Both the Short-Term Holder to Long-Term Holder (STH/LTH) ratio and Hot Capital Share are on the rise, pointing to heightened speculative activity and more active positioning in the Bitcoin market. These metrics may signal increased trading opportunities and risk for both short-term and long-term BTC investors. Source: @glassnode

According to QCP (@QCPgroup), markets have steadied following the postponement of the tariff deadline to July 9. However, this event highlights how quickly market conditions can shift. The $BTC July–June volatility spread, which had exceeded 2 vols last week, has now compressed to below 1. This contraction indicates that traders are preparing for a potential new policy pivot, signaling heightened sensitivity to macroeconomic events in crypto markets (Source: QCPgroup on Twitter, May 26, 2025).