Christmas bells turn into funeral bells? $23.7 billion giant whale options expire tonight, your position is being precisely targeted!

Did you think the market was on holiday? Wrong! A $23.7 billion pinpoint explosion is counting down! Leverage evaporated by $5 billion overnight, yet prices remain eerily calm. This is not consolidation; it's the calm before the storm, as the market makers have drained the pond dry!

What you see as calm is the artistic line-drawing of options market makers.

More than half of the options will expire on Friday, with $95,000 being the biggest pain point. Market makers are stubbornly pinning prices within this range like a magnet. There are 100,000 call options weighing down above, and 85,000 put options retreating below. Every fluctuation you see is part of a script calculated by others.

Liquidity exhaustion = volatility bomb.

During Christmas week, institutions withdraw funds, leverage disappears, and the market is as thin as a sheet of paper. At this time, any large order could trigger a sudden crash or spike of 5%-7%. This is not a market; it's a bidirectional strangulation under low liquidity.

What should players do?

Immediately reduce leverage! In this market, high leverage is a suicide invitation.

Give up short-term fantasies! Before the settlement on the 26th, all fluctuations are noise; watch more and act less.

Focus on two price levels: $85,000 is the lifeline; breaking below means panic; $100,000 is the breakthrough point; stabilizing here can open up a new narrative.

Prepare your bullets, wait for January! Historical patterns show that liquidity returns in January, marking the true start of mean reversion. What you need to do now is to survive until then.

The most dangerous moment in the market is not during a crash, but in a moment of silence when you can't hear the sound of your position collapsing. A true hunter has already found cover before the gun goes off.

Follow me, and be the first to capture the first wave of bloody charges as liquidity returns! A decline is not the end, but a touchstone to test your understanding and discipline. Those who can remain calm in panic will seize the next wave of surges. Follow Hongcai and participate in every attack! Hongcai will announce specific entry times and real-time news in the chat room daily! #加密市场观察