ProCap CIO: Large OI for Bitcoin put options at the end of December, implied volatility returns to pre-ETF listing levels

According to ChainCatcher, Jeff Park, Chief Investment Officer of bitcoin treasury company ProCap and advisor to Bitwise, analyzed that since the FTX collapse, bitcoin's implied volatility has never exceeded 80%. The closest it came to 80% was last March, when spot bitcoin ETFs experienced sustained capital inflows, but now this indicator has returned to pre-ETF listing levels.

Additionally, according to data disclosed by Jeff Park, among the bitcoin options expiring on December 26, the $85,000 put options have a large open interest (OI) of about $1 billion, which is higher than the $125,000 call options ($620 million), $140,000 call options ($950 million), and $200,000 call options ($720 million).