Gate Research Institute: BTC Volatility Remains High, Divergence in Safe-Haven Demand

According to Gate Research Institute, the crypto market maintained a volatile trend this week under dual disturbances from macro factors and investor sentiment. Expectations of a rate hike by the Bank of Japan and ongoing uncertainty around Fed policy continue to ferment, with the current probability of a rate cut in December at 89.2%. BTC rebounded sharply on Wednesday, briefly returning to around $93,000, showing a clear short-term recovery. Technically, downside support remains resilient, and the market overall is in a news-driven range-bound phase.
This week, implied volatility in the options market retreated compared to last week, with BTC and ETH IV at 48.6% and 70%, respectively. The 25-Delta Skew for both BTC and ETH steepened rapidly over the weekend, indicating spreading market panic and defensive sentiment. BTC's volatility risk premium turned positive from negative and hovered near the zero axis. The largest block trade by cumulative size was buying BTC-51225-75000-P, with a total volume of about 1,200 BTC and a premium outlay of around $270,000; and buying ETH-51225-3100-C, with a total volume of about 25,000 ETH and a premium outlay of roughly $340,000.
Additionally, Gate has newly listed options trading for HYPE, SUI, and BNB, now supporting up to 11 major assets for USDT-settled options. Users can participate in options trading via the web or app for more flexible investment strategies and risk hedging.
Details: https://www.gate.com/learn/articles/gate-research-btc-volatility-consolidates-at-high-levels-divergence-emerges-in-hedging-demand/14456