The opinions in the Bitcoin community have been sharply divided in recent days. Since the launch of options tools in mid-November, more and more people are turning bearish. Their core logic is simple—Bitcoin's performance has indeed been disappointing, especially during the US trading hours when there has been almost no decent rebound. This is not a minor issue; it has touched a nerve for many traders.

Currently, everyone is watching the trend around early January, thinking it might be a key window. However, to be honest, market participants are generally pessimistic about whether any major breakthroughs will occur by the end of the year. The technical outlook is even more discouraging—the daily chart still shows a weak structure, making it hard to maintain an optimistic outlook. With such a large divergence between bulls and bears, it seems unlikely that a consensus will be reached in the short term.