Adam, a macro researcher at Greeks.live, stated that European and American traders are returning to the market, restarting the flow of funds in both the cryptocurrency market and traditional markets, which has shown continuous rebound this week. Later this month, Trump will officially take office as President of the United States, and market sentiment is generally optimistic. This Friday, unemployment and non-farm payroll data will be released, which will be the most important macro data before Trump’s inauguration, aside from next week’s CPI data.
New EU regulations require cryptocurrency exchanges to comply with travel rule guidelines and strengthen anti-money laundering measures. Exchanges like Deribit need to improve their KYC processes to operate normally. Bitcoin has rebounded to $100,000, with a notable support from European and American funds returning to the market for BTC. The altcoin season has not yet arrived, with only a few sectors like AI showing good market performance.
Large holders and institutions have ample margin on hand, and there has been a significant increase in trading of large bullish options recently. The mid-to-short-term implied volatility (IV) has decreased notably. From an event-driven perspective, the end of January appears relatively undervalued, while March is relatively overvalued. In terms of the cryptocurrency interest rate market, the Bitfinex interest rate market has been relatively stable recently.

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