Bitcoin (BTC) trades at $78,300; daily put skew rises by 6.37 percentage points

Bitcoin traded at $78,300, up about 1%, after Binance disclosed a hack estimated at $6.3 billion, though the price remained roughly 4% below the October 29 pre-incident high. Spot prices avoided a sharp selloff, but downside protection costs in the options market rose, with the 25-delta put skew on daily-expiry Bitcoin options climbing about 1 percentage point over 24 hours to 6.37%. Binance said it would fully compensate users for losses from the incident. Orbit Markets co-founder Caroline Mauron noted that over the weekend... (article truncated). The muted spot reaction alongside rising put skews suggests traders are paying up for short-term downside hedges despite the compensation pledge. Watch for further details on the hack's scope, the mechanics of Binance's compensation plan, and whether implied downside demand persists into weekly expiries.