The crypto market's worst stretch may finally be over.
Option volatility data pointed to a possible recovery, with the industry hoping pain would ease. A recent sell-off tied to weak economic data was sharp but less severe than earlier crashes. Bitcoin and Ethereum futures open interest held steady even as trading volumes surged. Options implied volatility did not spike as much, suggesting traders remain cautious. The volatility term structure flattened during the recovery, though it quickly inverted at the front end.