Glassnode Co-founder: BTC Implied Volatility at Historic Lows, but Options Market May Face ‘Low Vol Trap’

The tension here is between what options are pricing and what the market may be underpreparing for. Implied volatility sitting at historic lows means protection is cheap in relative terms, yet the co-founder's framing warns that this calm can be self-reinforcing until it isn't. For options traders and desks managing BTC exposure, the risk is a positioning squeeze if realized volatility reasserts itself. Whether implied vol stays suppressed or mean-reverts is the open question, and it matters most for those carrying short-volatility structures.