Greeks.live: Both Bitcoin and Ethereum options Skew remain positive, with whales significantly increasing their bullish option positions during the pullback

In a message from ChainCatcher, Adam, an analyst at Greeks.live, posted on social media saying, "Since February, the market has fallen into a significant correction. BTC once fell to $91,000 and ETH fell even more drastically to $2,100 - hitting new lows since 2024. The fall in altcoins was even more severe with many dropping by 50% in one day.

During the most drastic drop period, short-term option IV for ETH broke through 110%, and major terms also rose above 70%. It is still maintaining at high levels. As BTC's decline was relatively mild its short-term option IV rose to 65%, but as it regained the $100k mark its main term IV returned to pre-crash levels.

The market differentiation is now very clear; BTC is being pursued both within and outside of the crypto circle with strong financial support. Meanwhile funds are rapidly leaving Altcoin represented by ETH; prices of most cryptocurrencies have significantly shrunk and the expected altcoin season has not arrived yet.

From options data we can see that both BTC and ETH Skew maintained positive values. Whales also added bullish options massively during corrections indicating that overall future market sentiment remains optimistic despite temporary setbacks shaking confidence in the market. However, cryptocurrency's future looks bright."