[Glassnode: Panic Eases After Bitcoin Stabilizes, Funds Flowing Into Bullish Options] Glassnode's weekly report indicates that the current market conditions are similar to the early stages of the 2022 bear market. ETF demand remains weak, with IBIT experiencing six consecutive weeks of outflows, totaling over $2.7 billion in redemptions—the longest negative flow record since its launch in January 2024. Derivatives data shows a decline in risk appetite, with open interest decreasing continuously from November to December, perpetual contract funding rates remaining largely neutral, and funding premiums retreating. The options market sentiment is cautious; earlier this week, when Bitcoin's price approached $80,000, put option buying dominated. However, after the price stabilized, panic eased, and funds began flowing into bullish options.