Analysis: Options trading leans bearish on ETH, weakening US stock futures trigger rise in risk aversion sentiment

Odaily News Bitcoin and Ethereum prices showed little change, while US stock index futures weakened, spreading market risk aversion sentiment. Traders turned to safe-haven assets like gold and silver, but the altcoin sector displayed slight strength. LayerZero's ZRO token surged 12% over the past 24 hours as traders anticipate a major upgrade in early February, while TRX and DASH both gained around 3%. Derivatives data indicates that long traders were caught off guard since the price drop at the beginning of the week, with Bitcoin's 30-day annualized implied volatility index BVIV falling back to 40%. Deribit data shows that the prices of short-term and near-term Ethereum put options are higher than those of Bitcoin put options, suggesting traders are more bearish on Ethereum. In terms of block trades, the market shows a preference for Bitcoin straddles (betting on volatility) and Ethereum put spread strategies. (CoinDesk)