Analysis: Bitcoin Volatility Downward, Options Market Favors Iron Condor Arbitrage, Privacy Coins Strong Independently

Despite Bitcoin falling to $90,700 over the weekend, several altcoins are still seeing gains. Privacy coins Monero and Zcash are leading the way, with Monero hitting a new high of $576, up over 12% since Sunday 21:00 UTC, while Zcash is up 3.8%. CoinMarketCap's 'altcoin season' index is now at 30/100, moving out of 'Bitcoin season' for the first time since November 18. In derivatives, over $200 million in leveraged futures positions were liquidated in the past 24 hours, with 50% being bullish positions. BTC and ETH implied volatility indices remain under pressure, indicating expectations of reduced short-term price fluctuations. Open interest in futures contracts linked to Monero has reached the highest level since February last year at 369,000 XMR, while open interest in mainstream tokens like BTC, ETH, XRP, SOL, DOGE has decreased by 1%-4% in the past 24 hours. On the Deribit platform, put options for BTC and ETH continue to trade higher than call options, with bulk trading flows showing a preference for the 'iron condor arbitrage' strategy for BTC and calendar spread strategy for ETH. (CoinDesk)

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