Will the first week of 2022 break the Bitcoin sideways pattern holding the price below $52,000?
require users to verify their third-party wallet addresses to comply with the Financial Action Task Force travel rule guidelines.Regardless of the short-term bearishness behind December's 16% price drop,
both U.S. stocks and gold for the third year in a row. Yet, that performance was not enough to avoid every $48,000 and higher call option instrument becoming worthless as the Dec. 31 expiry price came in lower.At first sight, the $4.0 billion call options vastly outperformed the $2.1 billion put instruments, but the 1.9 call-to-put ratio is deceptive because the 16% price drop from Nov.'s $57,000 close wiped out most of the bullish bets.
Bulls and bears instruments were evenly marched for the Dec. 31 Bitcoin options expiry, which came in much smaller than expected at $660 million. Yet, bears were unable to take control as 85% of their bets have been placed at $47,000 or below. Such data partially explains why the Dec. 31 expiry was followed by an attempt from bulls to regain momentum.
Will the first week of 2022 finally be able to revert the slightly negative sentiment that has prevailed since the Dec. 3 crash? Unfortunately, according to Bitcoin options markets, there is no indication that the tide has changed.
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