Odaily Planet Daily News Greeks.live analyst Adam posted on the X platform: "BTC has seen a large number of put option block trades today, with a nominal value of $600 million accounting for a quarter of the total trades. Tonight alone, two bearish calendars are worth $110 million. The market is weakening, and confidence is also declining. The short-term Skew is close to 0, and the medium- and long-term Skew and IV have also fallen significantly. The market outlook for February is not optimistic. There are still a large number of altcoins waiting to be unlocked in the first quarter, and the market is currently short of funds."