Anchorage Digital data shows near-term hedging activity rising as BTC volatility ratios signal caution among investors.
Bitcoin options traders are prioritizing downside protection as implied volatility ratios reflect lingering uncertainty. The 30-day to 7-day implied volatility ratio remains subdued, indicating a focus on near-term risks rather than long-term directional bets.
Strategy’s perpetual preferred stock, STRC, fell to $82.53 on June 22, down 17% from its $100 par value, before recovering slightly to $77. Common shares (MSTR) traded at $87, down 78% over the past year. Despite the sell-off, options markets show no signs of extreme stress seen in prior corrections.
Anchorage Digital noted that while put skew has increased, it has not reached levels associated with severe downside scenarios. The firm’s reserves rose to $1.3 billion, easing some investor concerns.