PANews reported on December 24 that Singapore crypto investment firm QCP Capital stated today that after experiencing a washout last week, spot prices continue to maintain sideways fluctuations as the holidays approach. Although the market appears calm on the surface this week, everyone's attention is focused on the large-scale options expiration event coming this Friday, during which nearly $20 billion in notional value of Bitcoin and Ethereum options will expire. This figure accounts for nearly half of Deribit's total options open interest.
After the options expiration, it is very likely that we will see the typical end-of-quarter volatility sell-off phenomenon re-emerge, especially if spot prices continue to fluctuate within this range, and if option sellers continue to roll their short positions. Unlike those option sellers who must wait for the options to expire to release their collateral, call option buyers may have already rolled most of their positions in advance. However, if BTC can successfully break through the $100,000 barrier, then volatility may remain stable.
Meanwhile, as BTC continues to hover below $100,000, we may also see altcoins begin to gain momentum again. A month ago, when BTC was trading at these levels, ETH/BTC rebounded from a support level of 0.032, and a similar trend was observed at that time. Currently, BTC's market share remains at 58%, and we are closely monitoring whether this proportion will see a significant decline to confirm whether funds are flowing from BTC to altcoins.
