In the past 24 hours, the Bitcoin options market has experienced a significant increase in put options activity, with their share rising to 28% and totaling over $1.15 billion. This surge is primarily focused on near-term out-of-the-money contracts set to expire this week and month, with a concentration in the $10.4K–$10.8K range. Additionally, the skew has deepened negatively, indicating heightened short-term volatility and fear levels approaching those seen during the market crash on the 11th.