According to BlockBeats news, on December 24, QCP released a daily market observation stating that following last week's crash, the spot market continues to consolidate as the holiday season approaches. Although the market seems calm this week, all eyes are on this Friday's massive expiration date, when BTC and ETH options with a notional value of nearly $20 billion will expire. This accounts for almost half of Deribit's total open interest.
After expiration, we may see typical end-of-quarter volatility sell-offs, especially considering that the spot market continues to fluctuate and option sellers continue to close positions. Unlike most option sellers who must wait until expiration to release collateral, call option buyers may have already closed most of their positions. However, if BTC successfully breaks through $100,000, volatility may remain strong.
Meanwhile, as BTC continues to struggle below $100,000, we may also see altcoins starting to catch up again. A similar trend was observed a month ago when BTC was trading around these levels, and ETHBTC rebounded from the support level of 0.032. As BTC's dominance remains at 58%, we are closely monitoring for a significant drop below this level to confirm a rotation into altcoins.
