I just noticed that Bitcoin options data is skyrocketing again, especially the downside protection premiums reaching their highest level in history. It means traders and investors are now extremely afraid of a potential price drop, even willing to pay a high price to protect their positions.

VanEck also noticed this, and they believe it’s a signal that market fear is at its peak. These high premiums basically reflect extreme anxiety among market participants. So it’s not just about Bitcoin’s price, but more about sentiment and risk management strategies that are shifting.

From this perspective, the market might be at a critical point. Whether this is the bottom or if there’s still more downside, what’s clear is that the fear level is now at a rare high.