Analysts: Bitcoin prices continue to rebound, but implied volatility (IV) for major term options is actually declining.

Adam, a macro researcher at Greeks.live, pointed out in an article on the X platform that as Bitcoin's price continues to rebound, the implied volatility (IV) of major term options is actually declining, while the skew is clearly positive. This phenomenon is mainly due to the gradual easing of the military conflict between the US and Iran, with market concerns about the risk of war dissipating, leading to a significant drop in put option prices. Trading volume in both the order book and commodities is relatively balanced, with the majority of trading concentrated in the current and next month's contracts. The market is readjusting its positions, and major participants are reaching a consensus on future market expectations—low volatility is becoming the mainstream expectation.