According to Crypto界网, data from Glassnode shows that Bitcoin is currently consolidating between $62,000 and $72,000, and is expected to decline for the fifth consecutive month. Despite the weak market environment, Bitcoin options open interest (OI) has returned to a historical high and is expected to surpass the 550,000 Bitcoin peak set in December last year within a few days, once again emphasizing the importance of the options market. Meanwhile, implied volatility (ATM IV), although it has fallen from early peaks, remains above levels from a month ago. The implied volatility pricing for 1-month and 3-month tenors is approximately 47%, about 10 volatility points higher than last month, indicating that investors’ demand for protection remains steady.