Christmas market not yet seen, Bitcoin adjusts as historic options expiration approaches

2025-12-26 01:27:22

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Source: HanKyungBlockchain Original Title: Santa Rally When… Bitcoin Pauses, Record-Breaking ‘Options Expiry’ Tension Amid Market Calm

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During the Christmas holiday, the cryptocurrency market did not see the anticipated “Christmas rally,” but instead showed signs of correction. Bitcoin experienced a slight decline, hovering around $87,000, and even briefly dropped to the $86,000 range during the trading session. Market focus is on the large-scale options contracts expiring tonight.

According to data from global crypto asset exchanges, Bitcoin fell 0.8% on the day, with a trading price of $87,160. Bitcoin’s decline widened at one point, with a low of $86,934 during the session. The market failed to find significant upward momentum during the holiday period, showing overall weakness and consolidation.

Altcoins experienced larger declines. Ethereum dropped 1.68%, trading at $2,897, losing the psychological support level of $2,900. Solana also faced selling pressure, collapsing below the $120 mark. As a result, the total crypto market capitalization shrank to $2.94 trillion.

The core factor behind the market’s tense sentiment is the “historic” options contracts expiring today. Data shows that approximately 300,000 Bitcoin options contracts will expire today, with a notional value of about $23.7 billion.

Including Ethereum options, the total derivatives expiring today approach $28.5 billion, doubling compared to the same period last year. About 446,000 spot Bitcoin ETF-related contracts are also facing expiration.

BTC-0,98%

ETH-0,73%

SOL-0,75%

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StakoorNeverSleeps

· 3h ago

What about the Christmas market? Is it another institutional dump? --- Before options expiration, this wave of volatility is probably going to scare off many retail investors. --- Stop at 8.7. See you next year. --- I don't understand why there has to be a Christmas rally, still getting chopped up. --- A historically significant options? Sounds ridiculous. Everyone, get out early. --- Another adjustment? I'll just average down. Anyway, I'm long-term bullish. --- Options exploded tonight. Who can help me with some add-ons? --- If it weren't for options expiration, could it really drop this hard? --- Santa only delivers gifts to institutions. We're just getting chopped. --- Can't even hold 8.6? What support is left afterward?

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GmGmNoGn

· 3h ago

What about the Christmas market? Are you here to deceive us again? --- Historical options expiration... Are you going to cut again? --- Fluctuating around 87,000 for half a day, do you really like volatility? --- The calm before options expiration, why do I feel a bit cold? --- Santa Claus hasn't come yet, where's my Christmas gift? --- A 0.8% drop, so what? Wake up, everyone. --- Options are really hard to understand, and I don't even want to look at them. --- In adjustment... I'm tired of hearing this word, haha. --- Large-scale options and such, as long as I'm a leek, it's fine. --- This number 8.693... why is it so annoying? --- I'm a bit regretful now waiting for the end-of-year market. --- Tonight's options expiration, just tonight, anyway, it won't fall much.

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¯\_(ツ)_/¯

· 13h ago

What about the Christmas market? I'll just say it, this wave can't be pumped up at all. The options liquidation drama is about to start, are the bears rubbing their hands? Hovering around 87,000, feels like it will keep falling? Tonight's the big show. It's another "historical level"... why are there so many of these words, is it real or fake? Before running away, check out how to play the options expiration, should I go all-in?

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GateUser-26d7f434

· 13h ago

The Christmas market didn't arrive, but instead started to adjust? By the way, we really need to keep a close eye on this round of options expiration.

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SellTheBounce

· 13h ago

Christmas market? Wake up, someone is always waiting for the next lower point. A rebound at 87,000 should be a signal to sell; history tells us not to be the bagholder.

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AirdropATM

· 13h ago

Where's Santa Claus? Why hasn't he come to deliver the gifts yet... Will this wave of options directly break through 8.6? Feeling a bit anxious Brothers staying up late to watch the market, stay strong, tonight might be very exciting If 87,000 can't hold, it seems like it will drop further Options expiration feels like this, it's exhausting

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OffchainWinner

· 14h ago

Christmas market? Still waiting... Oh, another correction. The real show tonight is the options expiration. Hanging around near 87,000, I really can't hold on anymore. Historical-level options? This time, they're really going all out. Wait, is this wave about to crash again?

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fren_with_benefits

· 14h ago

Christmas market, why are you still dawdling... This wave of options expiration is really exhausting.

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ChainMemeDealer

· 14h ago

Christmas market? I just wanted to see some fireworks, but instead the coins gave me a "dance of adjustment"... Not gonna lie, the expiration rhythm of this options is really tense, $87,000 is truly an awkward position. A historic-level option? Sounds like not good news... It's the same old story, every time at critical moments Bitcoin just starts to hesitate. Is the decline still widening? Who can give me a reassurance tonight... Is the $86,000 low point a joke or are we really trying to test lower? Is this wave about to be harvested again by options, familiar recipe, familiar taste. Santa Claus didn't come, but the options devil is working hard haha. May I ask all the big shots, are you still holding on? Feels like a change is coming.

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