According to ChainCatcher, Greeks.live analyst Adam pointed out that BTC pulled back after failing to hit $110,000, clearing out some leveraged longs, and the adjustment of altcoins has lasted for nearly a month.
ETF outflows and market makers adjust positions as Christmas and annual deliveries approach. Recently, the proportion of large call option transactions 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, and the cost-effectiveness of buying options in the coming week may significantly improve.
