Bitcoin Options Traders Pay Record Premium for Downside Protection

Bitcoin options traders have paid a record premium for downside protection, according to NS3.AI. The put/call open interest ratio has risen to 0.84, marking the highest level since June 2021. In the past 30 days, spending on put options reached approximately $685 million, while call option premiums decreased by about 12% to around $562 million. Additionally, realized volatility has dropped from approximately 80 to 50, and futures funding rates have fallen to 2.7%.