The reason for the decline in the cryptocurrency market has been revealed.

The decline in the crypto market is associated with the downturn in the US markets and the strengthening of the US dollar against other major currencies. For example, yesterday the S&P 500 index fell from approximately 5,993.96 points to 5,909.02 points. However, experts believe that the bullish trend in the crypto market is still strong. So, has a buying opportunity arisen while Bitcoin is on the decline? Let's examine the details.

Why is the crypto market in decline?

On January 7, the S&P 500 index experienced a significant daily drop of 1.38 percent. On the same day, leading US stocks like Tesla and Nvidia showed a similar trend.

Tesla: fell from $406.15 to $393.65.

Nvidia: experienced a sharp decline from $153.11 to $140.14.

Additionally, the US dollar strengthened against other major currencies, gaining 0.46 percent against the Euro, 0.30 percent against the Japanese Yen, and 0.11 percent against the Indian Rupee.

It is noted that these factors have had a negative impact on the crypto market and suddenly reversed the market's direction.

Data from the options market

According to reports, although the short-term volatility rate has slightly increased, it still remains at low levels. It is reported that there has been no significant change in options pricing and the futures market. Additionally, market indicators suggest that expectations for future volatility are stable.

Is Bitcoin's bull market continuing?

In the last 24 hours, Bitcoin has lost approximately 5 percent of its value. Even in just the last hour, there was a decline of 0.3 percent.

Experts believe that this decline is a temporary correction. The strong market fundamentals of Bitcoin and the increasing demand indicate that it maintains its upward potential in the long term.

Options trading expert Greeks.live recently suggested a $100,000 short-term call option as a strategic investment opportunity in a recent post.

On the other hand, despite the recent corrections, it is still believed that Bitcoin's bullish market outlook remains strong. Investors looking for strategic opportunities in Bitcoin options can evaluate these market fluctuations more consciously.