Bitcoin has declined to $90,700, while privacy coins Monero and Zcash are outperforming the market. Monero reached a new all-time high of $576, gaining over 12% since Sunday evening, and Zcash rose by 3.8%. The altcoin season indicator has shifted to a neutral zone for the first time since November 18, suggesting a potential shift in market dynamics. In the derivatives market, over $200 million in leveraged futures positions were liquidated, with half being long positions. Implied volatility for BTC and ETH is decreasing, indicating expectations of reduced price volatility. Monero's futures open interest has surged to 369,000 XMR, the highest since February last year, while open interest for major tokens like BTC, ETH, XRP, SOL, and DOGE fell by 1% to 4%. On Deribit, BTC and ETH put options are priced higher than call options, with BTC seeing a preference for iron condor strategies and ETH for calendar spread strategies.