Glass half full: Bitcoin options traders neutral after 28% BTC price dip

[Btceth01]

Bitcoin (BTC) might have recovered from the $47,000 low seen on April 25, but the subsequent 15% bounce was not enough to bring optimism to the BTC options markets. Even at the present $54,000 level, the price remains 17% below the $64,900 all-time high reached on April 14.
The popular Crypto Fear and Greed Index reached its lowest level in 12-months, signaling investors are closer to "extreme fear," which is a complete reversal from the "extreme greed" level seen on April 18. This indicator gathers data from price volatility, volume change, social media activity, Bitcoin dominance and recent search trends.
As Bitcoin price dropped and then recovered, the more experienced whales and arbitrage desks behind options trading were far from panicking, but their main risk gauge has recently hit a 12-months peak. However, despite these 'worsening' conditions, these pro traders are neutral both in skew metrics (options pricing) and the put-to-call ratio (risk exposure) Source