Coin界 News: According to a post by Glassnode, Bitcoin is retesting the $90,000 level after a strong rally at the beginning of the year. Options market data shows that as prices stagnate, volatility sellers are entering the market, with at-the-money implied volatility retreating from highs. The one-week 25 Delta skew has risen to 8.2%, with increased demand for put options, reflecting the market's rising hedging demand against short-term downside risks ahead of weakening prices and key U.S. macroeconomic data releases. Recent options fund flows have also been biased toward buying put options, accounting for close to 30%. Overall, market sentiment is tilted toward cautious hedging rather than panic.