Bitcoin and Ethereum options data show that concerns about a price decline still persist in the market

According to CoinDesk, the prices of bearish options for BTC and ETH on Deribit remain generally higher than those of bullish options, indicating that the market's concerns about downside risks persist.

Analysts believe that downside protection has become a crowded trade, making bullish options relatively cheap for investors with a bullish outlook. From a directional positioning perspective, bearish strategies such as put spreads, volatility bets, and straddles and strangles accounted for nearly 50% of all large options trades in Bitcoin over the past 24 hours. In the case of Ethereum, traders prefer the "iron condor" strategy to profit from potential range-bound market conditions.

Meanwhile, Volmex's 30-day implied volatility index for Bitcoin and Ethereum remains at multi-month lows, suggesting that despite the bearish capital flows and technical patterns, there is no clear panic or fear sentiment in the market.