According to Odaily, Greeks.live macro researcher Adam posted on the X platform that cryptocurrencies have entered a correction phase after multiple failed attempts to break resistance levels. The implied volatility (IV) across major timeframes has significantly decreased, with BTC Dvol falling below 50%. Over the past year, this level has been lower only 30% of the time. Option data indicates that realized volatility (RV) has dropped from a high of 100% on August 9 to the current 40%, leading to a sharp decline in BTC's actual volatility, which is a key factor driving down IV.
In terms of block trades, there has been a gradual increase in large bullish option trades, with many choosing expiration dates at the end of September and October. This suggests that whale investors are beginning to position themselves for a potential market upturn.