PANews reported on December 3rd that, according to Gate Research, the cryptocurrency market remained volatile this week due to both macroeconomic and sentiment-driven factors. The Bank of Japan's interest rate hike expectations and the uncertainty surrounding Fed policy continued to escalate, with the probability of a December rate cut currently at 89.2%. BTC rebounded to around $93,000 on Wednesday, showing a significant short-term recovery. Technical analysis indicates that support levels remain resilient, and the market is generally in a news-driven range-bound trading phase.

This week, implied volatility in the options market declined compared to last week, with BTC and ETH implied volatility at 48.6% and 70%, respectively. The 25-Delta Skew for both BTC and ETH saw a rapid and steep decline over the weekend, indicating widespread market panic and defensive sentiment. BTC's volatility risk premium turned positive and hovered near the zero line. The largest cumulative trades were a buy of BTC-51225-75000-P, totaling approximately 1,200 BTC with a premium of approximately $270,000; and a buy of ETH-51225-3100-C, totaling approximately 25,000 ETH with a premium of approximately $340,000.