Bitcoin’s volatile price Movement: On December 17, Bitcoin surged briefly to 108,000 USD before retracting to approximately 106,000 USD, erasing over 1.3 billion USD in open interest. This volatility occurred as Wall Street opened, showcasing significant trading activity.

Options market sentiment: The options market displays caution with more investors hedging through put options. Despite potential short-term pullbacks, analysts believe Bitcoin’s long-term prospects remain strong, encouraging exposure through mid-2025.