Greeks.live: The market's panic sentiment has not disappeared, and the long-term Options data from the end of the year to next year still points to a fall.

[Greeks.live: The market's panic sentiment has not disappeared, and the medium to long-term options data from the end of the year to the following year still points to bearish] Adam, a macro analyst at Greeks.live, stated on social media that in the third quarter, we observed a clear optimistic attitude in the options market towards the fourth quarter. Even during the late August when Bitcoin prices continued to fall, the fourth-quarter options holdings remained bullish. We called it the Q4 market or the Christmas market at that time; however, the crash on 1011 and the continuous decline in November have shattered the previous market structure. In the current market context, the voices urging for a price surge to new highs in the fourth quarter have completely disappeared, and a pessimistic atmosphere is spreading. Despite the decline in RV, IV, and 25D Skew this week, the market's panic has not disappeared, and the mid-to-long-term options data from the end of the year to the next year still points to bearish. Due to the approaching monthly settlement, the price fluctuations this month have been significant, thus the demand for repositioning from whales is very strong. The large orders mentioned by Jake O should also be part of the repositioning. From the overall data, it can be seen that a short-term bottom has formed, and the options market's preference for the recent continuous fall has weakened. However, the market expectation for short-term fluctuations is still considerable. Nevertheless, the market in the last month of this year remains dangerous, and volatility expectations are still high.