According to BlockBeats, on August 7th, Glassnode released a market view stating that Bitcoin options market sentiment is improving, with short-term downside skew significantly decreasing. The 1-period 25-delta skew has dropped to approximately 7%, indicating that recent panic has eased. However, the longer-term skew remains at approximately 10%–12%, suggesting that downside protection demand still exists.

Currently, open interest in BTC call options is approximately $15 billion, higher than the approximately $10 billion in put options. Recent funds are primarily concentrated in the $61,000 to $67,000 range, with a notable increase in call option buying at $65,000. Glassnode believes the market is shifting towards more aggressive positioning, but has not yet abandoned risk hedging.

According to BlockBeats, on August 7th, Wall Street Journal reporter Nick Timiraos stated that the July jobs report will be difficult for the Federal Reserve to interpret. New evidence that the labor market has not resumed its acceleration may reduce the urgency of a rate hike next month, but this still depends on better inflation data.

A declining unemployment rate will continue to keep market focus on inflation data. Whether price pressures rise or fall will determine whether more officials conclude that they cannot continue to maintain their inflation target forecasts with interest rates unchanged. A mild inflation report will strengthen the case for keeping rates unchanged (as two consecutive months of mild data begin to show a trend rather than noise). Strong data, on the other hand, will cast doubt on forecasts again and give officials opposed to raising rates a chance to win a fourth vote.

According to BlockBeats, on August 7th, Randi Abernethy, Head of Clearing and Group Risk at Bullish, stated that the US Senate's failure to pass the "Clarity Act on Digital Asset Markets" does not mean the digital asset market has stopped developing; rather, it highlights the necessity of establishing a federal regulatory framework.

Abernethy points out that while the Senate is considering the CLARITY Act, traditional US financial institutions are still accelerating their entry into the on-chain market. JPMorgan Chase has piloted tokenized ETF holdings through the Depository Trust & Clearing Corporation (DTCC), and more than 50 institutions (including BlackRock and Goldman Sachs) are also involved in building tokenized infrastructure for stocks and Treasury bonds. The current regulatory discussion is no longer just a "crypto industry issue," but rather a question concerning the future infrastructure of the entire financial system.

Abernethy cited the 2008 financial crisis as an example, stating that financial risks can spread along shared infrastructure, impacting even institutions not directly involved in the assets. The stablecoin market is now worth over $100 billion, with significant stablecoin reserves invested in US Treasury bonds. A crisis in a major stablecoin could affect liquidity in traditional financial markets. She noted that proponents of the Clarity Act believe it can establish a unified regulatory framework for the digital asset market, including core investor protection mechanisms such as customer asset segregation, conflict of interest management, capital requirements, and information disclosure. (CoinDesk)