Bitcoin Options Skew Turns Bearish Amid Plunging Implied Volatility

Bitcoin options skew has turned bearish due to plummeting implied volatility, according to Glassnode data. The decline in upside implied volatility has dropped to an all-time low of 23%, with traders no longer paying for potential gains even as global markets set records.

The price action on the 4-hour chart is currently within the Bollinger bands at $64,471.72, with upper resistance at $65,165.97 and lower support at $63,065.53. The 50-EMA at $64,003.61 and 200-EMA at $63,650.37 serve as layered support, while the MACD holds a golden cross at 292.61 and RSI remains neutral.

This setup aligns with Bitcoin price prediction models that factor in compressed volatility regimes rather than an outright crypto market crash. The current situation suggests a likely test of the 50-EMA before any potential continuation higher.