The implied volatility of BTC and ETH has declined, and traders are flocking to the options market seeking leverage.

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PANews, April 30 news, reported by The Block, that Bitcoin and Ethereum's volatility has decreased to a 7-day low this week, with the open interest (OI) in BTC and ETH options increasing by approximately $1 billion and $150 million, respectively. Data from the Derive platform shows that 73% of the premium in BTC options is used to buy call options, while the proportion for ETH is as high as 81.8%, with the number of call options being 3 times and 4 times that of put options, indicating strong bullish sentiment. However, data from mainstream platforms like Deribit shows that the market overall remains relatively cautious. Analysts say that even in the worst-case scenario, BTC and ETH are expected to maintain the current range in May.

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