Greeks.live: The overall market sentiment is bearish, Bitcoin may fall below 80,000 US dollars

Macro analyst Adam from Greeks.live stated in a briefing for the Chinese community on platform X that the market is generally bearish, believing that there is a lack of rebound strength and BTC may further fall below 80,000 USD. Some even believe it will follow last year's volatile trend. Several traders pointed out that it has already broken through the M top, posing risks to mid-term direction. The record net outflow of Bitcoin ETFs also intensified bearish sentiment.

Options traders discussed the abnormal performance of current market volatility. Despite sharp falls in prices, medium-to-long term options' volatility failed not effectively increase. This might indicate that the market expects this to be a one-time drop rather than a trend change.

The discussion about DVOL (Volatility Index) was very heated; professionals pointed out that insufficient liquidity is a major issue. There were suggestions to launch Perpetual DVOL to increase liquidity but this faces technical challenges in index design and risk management.