Analysis: Bitcoin Fluctuates Lower, Options Market Favors "Iron Condor" Strategy, Privacy Coins Show Independent Strength

According to Odaily, despite Bitcoin having retreated to the weekend level of $90,700, several altcoins have maintained their gains. Privacy coins Monero and Zcash are leading the gains. Monero's price has reached a new all-time high, currently at $576, up over 12% since 21:00 UTC on Sunday, while Zcash is up 3.8%. CoinMarketCap's "Altcoin Season" indicator is now at 30/100, moving out of "Bitcoin Season" into neutral territory for the first time since November 18.

In derivatives, over $200 million in leveraged futures positions were liquidated in the past 24 hours, with long positions accounting for 50%. The BTC and ETH implied volatility indices continue to face downward pressure, indicating market expectations for reduced price volatility in the short term. Open interest (OI) for futures linked to Monero has increased to 369,000 XMR, the highest level since February of last year, while OI for mainstream tokens like BTC, ETH, XRP, SOL, and DOGE has decreased by 1%-4% within 24 hours. On the Deribit platform, BTC and ETH put options continue to trade at a premium to call options. Block trade flow data shows a trading preference for the "Iron Condor" strategy for BTC, while ETH primarily sees calendar spread strategies. (CoinDesk)