According to ChainCatcher, Greeks.live analyst Adam said that this Wednesday is Christmas, major European and American trading platforms are closed, and crypto funds usually flow out.

Currently, ETFs are the main source of external funds for the crypto market. The pressure on capital outflows has increased significantly, and the market has strong risk aversion. Funds are tight during the Christmas holidays, and deleveraging may occur.

Nearly $12 billion worth of options have expired in the options market, accounting for more than 40% of total positions. Large investors and market makers are actively adjusting their positions. The volatility is not expected to be large during Christmas, and the market is betting on the market before and after Trump takes office at the end of January, which is a good opportunity to buy options.