Market expectations for volatility are even higher than during t

After several days of sustained declines, BTC realized volatility has risen sharply again, and all major term IVs have reached their highest levels in almost a year.
Market expectations for volatility are even higher than during the record highs, and looking at the market data, this is mainly due to the significantly higher prices of short-term put options.
Currently the options skew has returned to a neutral state from a significant skew, puts and calls with equal terms are back to parity, and the fomo sentiment from this year's surge has disappeared.