PANews December 24 news, Singapore crypto investment institution QCP Capital published today that after a wash last week, as the holiday approaches, spot prices continue to fluctuate sideways. Although the market seems calm on the surface this week, all eyes are on the upcoming large-scale option expiration event on Friday, when nearly $20 billion in notional value of Bitcoin and Ethereum options will expire. This figure accounts for nearly half of the total Deribit option holdings.
After the options expire, it is very likely that we will see a reappearance of the typical end-of-quarter volatility sell-off, especially if the spot price continues to fluctuate in this range and option sellers continue to roll their short positions. Unlike option sellers who must wait for the release of collateral after the options expire, call option buyers may have rolled most of their positions in advance. However, if BTC can successfully break through the $100,000 mark, then volatility may remain stable.
Meanwhile, as BTC continues to linger below $100,000, we may also see altcoins start to catch up again. A similar trend was observed a month ago when ETH/BTC bounced off the 0.032 support level when BTC was trading at these levels. Currently, BTC's market share remains at 58%, and we are closely watching for a significant drop in this ratio to confirm whether funds are flowing from BTC to altcoins.
