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Dari sudut pandang keuangan pada bulan Desember 2025, pasar cryptocurrency dipandang sebagai kelas aset dengan pertumbuhan tinggi dan risiko tinggi yang berkembang pesat dan terintegrasi dengan keuangan tradisional. Ini dianggap sebagai waktu yang menguntungkan, meskipun volatil, untuk berinvestasi, tetapi memerlukan strategi disiplin yang berfokus pada aset yang sudah mapan dan sektor-sektor yang muncul dengan utilitas dunia nyata.
Sudut Pandang Keuangan pada 2025
Integrasi dengan Keuangan Tradisional:
Institusi keuangan yang diatur semakin terlibat dengan aset digital. Kantor Pengawas Mata Uang (OCC) pada bulan Desember 2025 mengonfirmasi bahwa bank nasional dapat terlibat dalam transaksi crypto prinsipal tanpa risiko, secara efektif memungkinkan bank untuk memfasilitasi perdagangan klien dalam kerangka yang diatur.

A record-breaking amount of Bitcoin (BTC) options contracts, carrying a nominal value of approximately $23.8 billion, are scheduled to expire on December 26, 2025. This massive, year-end options clearing event is expected to significantly impact Bitcoin's price dynamics, leading to a "concentrated clearing and repricing of risk" across the derivatives market.
The sheer size of this expiry—which includes quarterly, annual, and a large number of structured products—is far from a typical monthly event, and it is largely being driven by sophisticated institutional players.
The "Pinning Effect": A Structural Price Corridor
Before the December 26 expiry, analysts predict that the market will exhibit a structural pull, or "pinning effect," exerted by two key strike prices where Open Interest (OI) is heavily concentrated:
Option Type
Strike Price
BTC Open Interest (Approx.)
Implication
Put Option (Right to Sell)
$85,000
$\sim 14,674 \text{ BTC}$
Strong demand for downside hedging. Acts as passive support (buffer).
Call Option (Right to Buy)
$100,000
$\sim 18,116 \text{ BTC}$
Funds willing to cap upside for cash flow. Acts as implicit suppression (resistance).
This concentration of institutional hedging activity suggests that Bitcoin's price may be structurally constrained to fluctuate within the $85,000 to $100,000 range in the days leading up to the expiry. Market makers often adjust their hedges to keep the price close to the point where the maximum number of contracts expire worthless (the "max pain" point), thereby reducing their payout exposure.
Who is Driving This Activity?
The volume and nature of these contracts are not indicative of typical retail trading. Instead, this massive open interest is attributed to:
ETF Hedging Positions: Funds managing spot Bitcoin ETFs often use options to manage their risk exposure and delta.
BTC Treasury Companies:
Large corporate holders like Strategy (MicroStrategy) may use options to hedge against volatility or generate income on their vast BTC holdings.
Large Family Offices and Institutions:
These entities utilize complex options strategies, like selling calls and buying puts, to compress their return distribution and manage risk within a predefined range.
Post-Expiry Volatility is Expected
While the market may be structurally restrained before December 26, the period immediately following the expiry is characterized by increased uncertainty and volatility.
When a record number of contracts expire, the market makers' hedges that were suppressing or supporting the price are unwound. This removal of derivative pressure can lead to a sudden and sharp price movement, as the spot market is forced to recalibrate and find a new equilibrium without the structural constraints of the massive options market.
In summary:
The $23.8 billion options expiry acts as a magnetic force, likely keeping Bitcoin within the $85K–$100K corridor until December 26. However, traders and investors should brace for significant, potentially volatile price action immediately afterward as institutional risk exposures are cleared and repriced for the new year.
Disclaimer:
The following information is for illustrative purposes only and should not be considered financial advice. Financial markets are highly volatile and unpredictable. Always conduct your own research or consult with a qualified financial advisor before making any investment decisions.

Mata uang kripto telah berkembang pesat sejak Bitcoin pertama kali diperkenalkan pada tahun 2009. Selama bertahun-tahun, aset digital telah berevolusi, menghasilkan ribuan mata uang kripto, platform keuangan terdesentralisasi (DeFi), dan aplikasi blockchain yang inovatif. Seiring dengan semakin populernya keuangan digital di dunia, memahami tren mata uang kripto di masa mendatang sangatlah penting.
1. Munculnya Mata Uang Digital Bank Sentral (CBDC)
Pemerintah di seluruh dunia tengah menjajaki Mata Uang Digital Bank Sentral (CBDC) sebagai sarana untuk memodernisasi sistem keuangan. Tidak seperti mata uang kripto yang terdesentralisasi, CBDC adalah mata uang digital yang didukung negara yang menawarkan efisiensi, transparansi, dan kendali atas pasokan moneter. Negara-negara seperti Tiongkok, AS, dan Uni Eropa tengah menguji atau merencanakan implementasi CBDC.

#Red_Packet_gift
Memprediksi masa depan teknologi, terutama di bidang yang berkembang pesat seperti mata uang kripto dan kecerdasan buatan (AI), melibatkan sejumlah spekulasi. Namun, berdasarkan tren terkini dan teknologi yang sedang berkembang, beberapa perkembangan potensial dapat diantisipasi pada tahun 2025.
1. Adopsi yang Luas:
- AI kemungkinan akan diintegrasikan ke dalam berbagai industri termasuk perawatan kesehatan, keuangan, manufaktur, dan pendidikan.
- Bisnis mungkin semakin mengandalkan AI untuk pengambilan keputusan, analisis prediktif, dan otomatisasi layanan pelanggan.