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Glassnode: The volatility of Bitcoin front-end options trading is about 50, with traders seeking downside protection paying a higher premium.

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BlockBeats reports that on October 17, Glassnode released a market analysis indicating that macro uncertainty continues to weigh on Bitcoin. Over the past week, gold has outperformed Bitcoin by more than 20%, taking away some of Bitcoin's asset preservation value, and the options market also reflects this shift in sentiment. Overnight price movements triggered a sharp rise in short-term volatility. The current trading volatility of Bitcoin front-end options is around 50, indicating that traders are paying higher premiums for immediate protection in the event of a market downturn. BTC has recently tended to behave more like a macro asset rather than a risk hedging asset, with a strong bias towards put options. The cost of downside protection remains higher than the upside risk exposure, reflecting the market's ongoing defensive inclination.

BTC-1.31%
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