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Foresight News reports that glassnode tweeted that as BTC broke below its multi-month range and tested February's low, the options market showed multiple defensive signals appearing simultaneously. The 1-week implied volatility (IV) briefly approached 60%, a sharp increase from about 30% last week, with longer-term volatility also rising across the board. The 25D skew surged, with the 1-week skew reaching 30% at one point, and the 1-month skew rising above 23%, indicating sustained market demand for downside protection. Call option premiums were eroded for both short and long maturities, while put option buying dominated capital flows over the past 7 days, accounting for 31.5% of options premium trading volume. The 1-month IV rose above 40%, while realized volatility remained around 35%, expanding the volatility risk premium to its highest level in weeks. In addition, the largest negative Gamma concentration is at $65,000, and BTC is currently within a wide short Gamma corridor, meaning market makers' hedging activities could amplify price swings. glassnode concluded that the overall positioning in the options market remains defensive.

After breaking below the multi-month range, BTC is currently testing its February lows. Options data reveals relevant information about position distribution, volatility expectations, and market sentiment.

June 5 news, it is reported that New Huo Group's compliant asset management product Alpha BTC performed steadily during the sharp market correction starting in June (BTC falling from $74,000 to $61,000). Through refined options hedging strategies, it not only effectively resisted downside risks but also achieved stable BTC-based returns. Alpha BTC is the first Bitcoin-denominated asset management product filed under the SFC’s Type 9 license framework. The core advantage of this product lies in using BTC spot and IBIT ETF as the base holdings, and enhancing BTC returns by earning premiums through far-end options. Data from 2025 to 2026 shows that this strategy can achieve BTC-denominated annualized enhanced real returns of 6%-8% in both bull and bear markets, and possesses robust risk management and drawdown control. During this recent market correction, the strategy not only met its defensive targets but also recorded double-digit short-term returns, once again proving the resilience of this asset allocation model in different market environments.