Data from the Bitcoin options block market shows a significant increase in the proportion of Bitcoin put options trading volume over the past 24 hours, exceeding $1.15 billion, accounting for 28% of total market volume. Trading activity is primarily concentrated in shallowly out-of-the-money put options from this week and this month, with the peak trading range between 10.4K and 10.8K. At the same time, the skew has become more negative, with the short-term skew being particularly pronounced, reaching levels comparable to those seen on the 11th. This suggests that the options market, particularly among major players like market makers, is experiencing a high level of fear regarding future market declines, even approaching the sentiment seen after the full-scale market crash on the 11th. Mimicking the trades of these major players and purchasing defensive put options would be a better option now.