CoinVoice has recently learned that QCP published a daily market observation stating that, as expected, we have seen typical volatility sell-offs after the quarter-end expirations, with volatility decreasing by 2-3 volatility points since last Friday's record option expirations.
Although BTC has consolidated near the bottom of the one-month range and the returns have been flat this month, BTC and ETH have performed reasonably well in the fourth quarter: BTC rose by 48%, while ETH rose by 30%. However, it may be too early to summarize this quarter now. Just yesterday, Saylor released his BTC purchase tracker again, which may signal another round of buying, further supporting the price.
Despite the possibility of another round of buying, we do not have high expectations for the market during the New Year period, especially in the case of healthy funds. The average return rate in January (+3.3%) is relatively similar to December (+4.8%), and we expect spot prices to remain in this range in the short term until a recovery begins in February.
Option flows also reflect similar sentiments, with front-end volatility gradually declining, while risk reversals mainly show strong demand for call options in March, partly due to a large purchase of March options last Friday. [Original link]
