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Bitcoin options put‑call skew expands, signaling defensive bets, while Oman unveils a mandatory national mining pool targeting 10 EH/s in its first phase.
Bitcoin’s 25‑delta put‑call skew on short‑dated options moved back into positive territory, indicating heightened demand for downside protection as the spot market consolidates, and the Sultanate of Oman introduced a state‑supervised mandatory mining pool aiming to aggregate roughly 10 EH/s of hashpower in its initial phase [1][2].
| At a glance | |
|---|---|
| Options skew | 25‑delta put‑call skew widened into positive (bearish) territory |
| Tenor focus | Short‑dated options showing strongest hedging demand |
| Mining pool launch | Omanhash.om mandatory for licensed miners, targeting 10 EH/s first‑phase capacity |
| Catalyst | Spot pressure from macro concerns and Omani regulatory move |
Deribit data show the 25‑delta put‑call skew turning positive, a classic sign that traders are paying more for puts than calls on short‑dated contracts. This shift reflects a defensive stance, with market participants seeking insurance against further downside moves while Bitcoin’s spot price remains under macro‑driven pressure. The widening skew aligns with broader concerns about ETF‑flow sensitivity and recent liquidation‑driven volatility, suggesting that sophisticated traders are prioritising protection over upside exposure [1].
In a separate development, Oman’s Ministry of Transport, Communications and Information Technology, together with Frontier Technologies and Enegix Global, launched Omanhash.om as the sole mandatory pool for all licensed Bitcoin miners in the country. The initiative is designed to consolidate about 10 EH/s of hashrate in its first phase, with a longer‑term target of 30 EH/s as additional infrastructure comes online. By routing licensed miners through a state‑supervised platform, Oman aims to increase visibility into mining activity, manage energy usage, and create a regulatory framework for the sector [2].
The widening options skew underscores a cautious market outlook, while Oman’s state‑run pool highlights a growing trend of governmental involvement in Bitcoin mining infrastructure. Together, they illustrate how both derivative sentiment and on‑chain policy shifts can shape the next phase of Bitcoin’s price dynamics.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 26, 2026 · How we report
Moving old coins, often defined as those held for more than five to six months, typically signals a change in macro sentiment, such as profit-taking during a bull market or capitulation during a bear market.
Miners are constant participants who must sell a portion of their holdings to cover capital and operational expenses, which creates a consistent supply of coins entering the market.
Bear markets are characterized by accumulation by long-term holders and low liquidity, whereas bull markets involve increased competition for blockspace and the distribution of coins from old hands to new speculators.