TechFlow news, February 26 — Adam, macro researcher at Greeks.live, published a Chinese community bulletin on X stating that the market sentiment is generally bearish, with weak rebound momentum. BTC may fall further below $80,000, and some believe it could follow last year's sideways volatility pattern. Several traders pointed out that the M-top formation has already been broken, indicating medium-term directional risks. Meanwhile, record net outflows from Bitcoin ETFs have intensified bearish sentiment.
Options traders discussed the abnormal performance of current market volatility—despite the sharp decline, medium- and long-term options volatility has failed to rise effectively, suggesting the market may view this drop as a one-off event rather than a structural trend shift.
Regarding DVOL (volatility index), professionals highlighted insufficient liquidity as the main issue. While there are proposals to launch perpetual DVOL contracts to improve liquidity, technical challenges remain in index design and risk management.
