PANews reported on January 12 that Greeks.live macro analyst Adam posted on the X platform that the market fell into a correction again this week, and Bitcoin failed to hit $100,000 again. The resistance of $100,000 is very strong. Trump is about to officially take office as the US president, but the major speculative markets are full of risk aversion, and US stocks have fallen sharply. The CPI data will be released on Wednesday this week. This will be the most important macro data before Trump takes office. The market is now waiting for Trump to fulfill his various promises when he takes office. The new EU regulations require crypto exchanges to comply with travel rule guidelines and strengthen anti-money laundering measures. Deribit and other exchanges need to improve KYC before they can be used normally.

Bitcoin failed to counterattack $100,000, and BTC ETF outflows are still continuing. The short-term market is relatively sluggish, but if Bitcoin can stabilize at $100,000, market confidence can still recover quickly. In terms of options, institutions have sufficient margins. As long as there is a selling opportunity, institutions will sell in large quantities, so the medium- and short-term IV has dropped significantly. Recently, there have been many large-volume call options transactions, mostly to supplement institutional selling positions. From an event-driven perspective, it was relatively undervalued at the end of January and relatively overvalued in March.