Group 1 - Bitcoin's options market is heavily leaning towards bearish sentiment, with the $80,000 put option becoming the most popular contract, holding over $2 billion in open interest, surpassing the $85,000 put at $1.97 billion [1] - The $140,000 call option has seen a significant decline in open interest, dropping to $1.56 billion, indicating a shift in investor expectations [1] - On-chain data suggests that short-term holders are capitulating, and if this is a standard correction, current levels could form a bottom, but falling below $80,000 may signal the start of a bear cycle [2][4] Group 2 - Analysts warn that failing to reclaim the $88,000 to $90,000 range soon could lead to new monthly lows for Bitcoin [4] - The sSOPR metric is showing a nearly two-year convergence, rebounding off its lower boundary, which may indicate a potential shift in market dynamics [4] - Despite the current state of "Extreme Fear" in the market, with a Fear and Greed Index reading of 12, analysts believe a catastrophic drop of 70% or more is unlikely in this cycle [5] Group 3 - The US-listed spot Bitcoin ETFs processed over $40.32 billion in cumulative volume last week, with BlackRock's IBIT accounting for nearly 70% of this volume [6] - Bitcoin's price has dropped 23% in the past month to $86,700, briefly nearing $80,000 on some exchanges, indicating increased market stress [6] - The accumulation phase for Bitcoin is nearing its end, suggesting that a new uptrend may be beginning [5]