Coin World News: According to Glassnode's tweet, after Bitcoin's strong rally at the beginning of the year, it is retesting the $90,000 level. Options market data shows that as prices stagnate, volatility sellers are entering the market, with at-the-money implied volatility pulling back from highs. The one-week 25 Delta skew has risen to 8.2%, with increased demand for put options, reflecting the market's growing hedging demand for near-term downside risks ahead of price weakness and the release of key US macroeconomic data. Recent options fund flows have also been tilted toward buying put options, accounting for nearly 30%. Overall, market sentiment is leaning toward cautious hedging rather than panic.