BlockBeats reports that on December 11, Greeks.live analyst Adam posted on social media that after several days of adjustment, the market has again reached a position of strong divergence. Currently, BTC is fluctuating below $100,000, ETH is oscillating around $3,700, and most altcoins have experienced declines of over 20%.
Currently, BTC options occupy 80% of the open interest and trading volume in the options market, making them highly indicative. Today, large bullish option trades accounted for nearly 30%, mainly focusing on buying short-term options with strike prices of 100,000 or more. Additionally, actively buying protective bearish options for the end of the year accounted for 10% of the trading volume.
The current short-term IV exceeds 60%, which is considered a high level. Institutions have strong expectations of volatility before Christmas, making it relatively cost-effective to buy some year-end options.
