Gate Research: Under wartime conditions, BTC's price action is stable with a slight upward bias, and volatility remains high.

PANews reported on March 5th that, according to Gate Research, the current implied volatility (IV) of BTC and ETH is approximately 55% and 74%, respectively. BTC's IV is near the 91st percentile of the past year, reflecting that the options market's expectations for short-term price volatility remain at a near one-year high. Over the past week, the 25-Delta Skew of both BTC and ETH has remained in negative territory, widening initially before converging. The 7-day skew once dipped to approximately -15 vol, indicating a temporary increase in short-term put demand.

Looking at the GEX distribution, Gamma is concentrated in the negative Gamma region around March 13th, which may amplify volatility and evolve into a trending market. The largest block option trading structure in the past 24 hours was a BTC 27MAR26 call 125k-C, approximately 1,500 BTC, with a net premium payment of $100,000; and an ETH 13MAR26 call 1950-P, approximately 10,000 ETH, with a net premium payment of $800,000.

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