Matrixport: Bitcoin Volatility Skew and Skewness Display, Market Risk-off Sentiment Heating Up

On November 24th - Matrixport released today's market analysis. It stated that in the past week, the implied volatility skewness of Bitcoin options has further weakened. The short-term skewness has expanded from approximately -3.5% last week to -10.6%, with a significant increase in the demand for short-term downside hedging. Meanwhile, the long-term skewness has decreased from about -0.2% to -1.9%, indicating a more pessimistic pricing of long-term tail risks. From an options pricing perspective, the market's pricing of downside risk has increased over the past week. This is reflected in both short-term options and contracts expiring next year. The current implied volatility has risen to around 58%, corresponding to a higher near-term downside risk premium and a more cautious medium-term trend expectation compared to a week ago. This indicates that the market does not view this round of volatility as a one-time shock.