glassnode: Bitcoin Retests $90,000, Demand for Downside Protection Increases and Risk Hedging Begins

Odaily News glassnode posted on the X platform, stating that options market data shows as Bitcoin retests the $90,000 level, market sentiment has turned cautious. Implied volatility rose during the price move towards $94,000, then declined as the price stalled, indicating volatility sellers stepped in after momentum weakened. Furthermore, the volatility risk premium remains positive, favoring volatility sellers. Options flow over the past 24 hours shows that trades buying put options accounted for nearly 30%, reflecting increased market demand for downside insurance and ongoing risk hedging ahead of price weakness and key US macro data releases, rather than expectations for a trend breakout.