BroadChain, April 23, 18:30, BTC volatility (VOL) has dropped to approximately 42%, with ETH VOL also falling back to 65%. Crypto implied volatility (IV) is generally below the 50th percentile of the past year. Cross-asset IV is accelerating back to normal across the board, and market sentiment is stabilizing. ETH Skew has converged to around -2. With the indefinite extension of the ceasefire agreement and BTC breaking through $75K, the conditions for Skew to turn positive have been met.
If ETH holds steady above $2,400, it will confirm the most important trend reversal signal in two months. The gold option defense line continues to rise to $4,900-$5,000, shifting from a mildly bullish stance to trend chasing. The largest block trade in the past 24 hours involved buying call options expiring on June 26 with a strike price of $85K, totaling 2,000 BTC, signaling a clear directional bullish move.
For ETH, there is a bearish combination with the same strike price expiring on April 24 (selling $2,000 Call + buying $2,000 Put, netting $1.02 million), locking in downside protection while releasing upside exposure. Both bullish and bearish strategies coexist, but the overall balance has tilted toward bullishness. Gate has launched an exclusive VIP incentive plan for options, allowing users to participate in sharing a 100,000 USDT prize pool during the event.
The platform supports cross-exchange VIP rate matching. Users can apply for lower rates by submitting VIP proof or trading volume records from other exchanges. Rewards are distributed based on options trading volume tiers—the more you trade, the higher the reward. Participating users also enjoy VIP customer support, API technical integration, and daily options strategy and data services, providing professional traders with more competitive trading costs and liquidity support.