Market Confidence Declines Amid Continued Downtrend

According to Odaily, Adam, a macro researcher at Greeks.live, has reported that the market downturn is ongoing, and confidence continues to wane. Today, the large options market saw a significant volume of put options, accounting for nearly 30% of the total transactions. Specifically, BTC Block Put transactions amounted to $280 million, while ETH Block Put transactions reached $90 million. In terms of options data, the skew for major maturities is shifting towards a bearish direction, with implied volatility seeing a slight increase. Overall, the options market's expectations lean towards a short-term gradual decline. There are no anticipated positive events in the near future, and September has historically been a relatively weak month. Currently, market sentiment remains quite low.