analyst Adam from Greeks.live stated that although the European and American markets are closed for the Christmas holiday, the cryptocurrency market has seen a significant increase driven by Bitcoin. Due to the poor market liquidity during the Christmas holiday and the end-of-year settlement period, less power is needed for price fluctuations.

In terms of options, the short-term implied volatility (IV) has decreased compared to the previous day, and market makers are nearing the end of their position adjustments. It is expected that IV will remain stable before the end of the year. Currently, the biggest pain points for Bitcoin options are at $84,000 and for Ethereum at $3,000, and these annual pain points may be ineffective as in previous years.