After Bitcoin failed to hit $110,000 recently, there have been some interesting developments in the market. First, Bitcoin’s pullback cleared some of the leveraged longs, while the altcoin correction has been going on for almost a month. Based on the experience of past bull markets, this situation may trigger a "copycat season", but the intensity of the current callback remains unclear.

As Christmas and annual delivery approach, ETF funds are clearly outflowing, and market makers are continuing to adjust their positions. Recently, the trading volume of large call options has averaged over 30% per day. After more than 40% of options expire at the end of the year, the large amount of margin released is expected to drive the implied volatility down, which may significantly improve the cost-effectiveness of buying options in the coming week📉📈. The market is constantly changing and investors need to stay tuned.