📉 KOL Emperor Osmo reveals that in 2025, the crypto sectors with the steepest declines were DeFAI, which plummeted by 97%, followed by Modular at 92% and DeSci at 91%. Additional sectors also saw substantial losses exceeding 80%, including AI at 87%, GameFi at 85%, LRT at 83%, and both Data and L2 at 81%.
Bitcoin Has Been Stuck for Weeks, And Options Expiry Explains Why
Bitcoin spending nearly all of December trapped between $85,000 and $90,000 hasn’t been random, and it hasn’t been weakness either. It’s been mechanics.
A massive concentration of options around current prices forced dealers to constantly hedge their exposure. Every dip toward $85,000 triggered buying. Every push toward $90,000 triggered selling. Not because traders had conviction, but because dealers had to stay neutral.
This kind of environment kills volatility and frustrates spot investors, even while equities rally and gold makes new highs.
That pressure is about to ease. Around $27B in bitcoin options are set to expire, wiping out more than half of open interest. The positioning is heavily skewed toward calls, with most strikes sitting far above current price levels. Once that gamma pressure decays, the artificial range that held BTC in place weakens.
Historically, when suppression ends during low implied volatility, price tends to resolve in the direction of positioning. In this case, the math favors upside rather than a breakdown.
The range wasn’t distribution. It was containment.
🧠🎢 Update for Tonight #FOMO : - #PTB surged +90% today: This token was one of the top picks on all CEXs at 08:05 Moscow time. By 10:06, it claimed the top spot for growth in open interest. However, starting at 13:05, a wave of significant sell-offs led to a sharp decline in the PTB price. - #ARC rose +40% since last night: Buying activity kicked off at 22:35, and this morning, ARC was among the leaders in open interest growth. However, from 13:05 onward, it topped the sales charts across all CEXs and led the sales on Bybit Futures. By 15:36, it also ranked first for the largest drop in open interest, resulting in a complete reversal of its price gains. #Careport