PANews reported on October 16 that according to Greeks.live analysis, Bitcoin options bulk market data showed that in the past 24 hours, the proportion of Bitcoin bulk put options transactions increased significantly, exceeding US$1.15 billion, accounting for 28% of the total market transactions. Transactions were mainly concentrated in this week and this month's shallow out-of-the-money put options, and 10.4K to 10.8K was the trading intensive area.

At the same time, the skew has become more negative, with the short-term skew being particularly pronounced, reaching levels comparable to those seen on the 11th. This suggests that the options market, particularly among major players like market makers, is highly fearful of a potential market downturn, even approaching the sentiment following the full-scale market crash on the 11th. Mimicking the trades of these major players and purchasing defensive put options would be a better option now.