According to The Block, citing Derive founder Nick Forster, the implied probability of Bitcoin trading below $70,000 at Christmas has risen from 15% last Wednesday to 31%, while the probability of it trading above $80,000 has dropped from 53% to 26%. Forster noted that traders are placing a higher value on downside protection. The figures above reflect option pricing at the time of reporting and do not represent price prediction conclusions or current real-time probabilities; nor does the 31% figure imply that breaking below $70,000 has become the majority probability scenario.