This is the most dangerous moment to be bearish.
The market is pinned by dealers until the math lets it go.
They SELL every rally
They BUY every dip
Volatility is being crushed on purpose.
The Math Tells the Story
Low volatility.
High ETF inflows ($1.6B inflows past week).
Mechanical suppression.
Gamma decay schedule matters more than narratives:
Jan 16: ~13% gamma rolls off (notable)
Jan 30: ~38% gamma rolls off (major)
Right now, dealers are absorbing demand.
After expiry, the same demand moves price.
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After holding ETH since 2020, today I cashed out. It’s not for me anymore. In between the obscene gas fees, loss of ETH through failed transactions and even the problems with moving to POS …even Vitalik now sounds depressed. I’m done. I’m all in on #Bitcoin $BTC