Matrixport: Bearish sentiment in the BTC and ETH options markets has eased somewhat.

According to Mars Finance, Matrixport released a chart showing that since late August, the option skewness for both BTC and ETH has remained in negative territory. The market has consistently priced in downside protection, resulting in higher implied volatility for put options and an overall cautious sentiment. Comparatively, BTC's skewness is generally weaker than ETH's. The skewness deepened in mid-November, reflecting a period of market pressure and a significant increase in demand for put options, indicating heightened risk aversion. While the skewness has recently recovered somewhat, it remains in negative territory, indicating that the pricing focus in the options market is still biased towards downside risk, and reversal pricing is still insufficient. This skewness correction also suggests that pessimistic sentiment is cooling, and the market's bearish bias has eased somewhat.