Gate Research: Implied volatility is oscillating at high levels; bet on structured trading within a neutral-to-bullish range.

According to Gate Research, the crypto market saw a weak rebound this week driven by improved macro sentiment: Weaker macro data and dovish comments from officials led to increased expectations of interest rate cuts, with the probability of a December rate cut reaching 84.9%. Bitcoin rebounded from around $80,000 to approximately $88,000,带动大大币相回涨 (leading to a synchronized rebound in major cryptocurrencies). However, liquidity remained cautious, with limited inflows into ETFs; short-term put implied volatility (IV) in the options market remained high, indicating continued downside hedging demand. Overall, the market is in a technical rebound phase driven by improved macro expectations. This week, implied volatility in the options market remained high, with BTC IV at 49% and ETH IV at 73%. Both BTC and ETH's 25-Delta Skew curves showed rapid and steep increases, indicating rising market panic and defensive sentiment. The largest cumulative transaction was a buy of BTC-261225-100000-C, a buy of BTC-261225-118000-C, and a sell of BTC-261225-106000-C and BTC-261225-112000-C, totaling approximately 10,000 BTC and incurring premium payments of approximately $5.84 million. The primary bet was that BTC would likely expire between $106,000 and $112,000, hedging against extreme price volatility at both ends. Furthermore, Gate Options launched a new fee discount promotion from November 3rd 00:00 to November 30th 00:00 (UTC+8), with BTC and ETH option fees as low as 0.025%, and a tiered fee structure where the more trades, the lower the fee. This initiative aims to further enhance market liquidity and attract more professional and institutional investors to participate in options trading.