#比特币流动性 Today's options expiration volume hits a new high—approximately 300,000 BTC options are about to settle, with a notional value approaching $23.7 billion. Including ETH positions, the total funds involved in this expiration round reach $28.5 billion, double the amount from the same period last year.

It seems calm on the surface, but there are underlying currents. I reviewed data from the past three years and found an interesting pattern: whenever a single expiration exceeds $5 billion, the market tends to follow a similar rhythm—initially a downward attempt to pressure, then a sudden spike at the expiration moment, followed by a rebound and recovery. It sounds simple, but few actually profit from it. Statistically, about 90% of retail traders blindly chasing longs end up with losses, and 80% who panic and close early miss out on the rebound. This time, the market outlook isn't very optimistic, and market makers will be more aggressive.

So instead of being scared by short-term spikes, it's better to clarify your thinking first. If you're still debating whether to be bullish or bearish today, take a look at how the market is actually moving. Market trends depend on a good mindset to see the direction clearly.