#数字资产市场动态 🪙 The $89,000 level has been broken! At this very moment today, a large number of investors who exited early based on moving averages, candlestick patterns, and cycle theories are probably not feeling very well. Especially those who believed in the "deeply bearish" prophecy before the new year and sold off their holdings—it's a complex mix of emotions. It turns out the market simply doesn't buy into these complicated chart theories.

But savvy market participants have long sensed the change in direction. Some analysts started highlighting opportunities in Bitcoin and Ethereum as early as the 23rd, and it proved they were right—beneath the silence, the market is brewing a shift in trend.

📈 Bulls and bears battle: the tug-of-war between $90,000 and $87,000

This breakout was not a sudden surge. The $90,000 level acted like a wall; Bitcoin tried to break through multiple times in December but failed to stabilize above it. The support below remains strong, with $87,000 considered the most robust level in terms of supply structure. Within this narrow range, capital is rapidly changing hands, and the divergence between bulls and bears is extreme, as the market accumulates strength for the next move.

💥 The risk trigger of massive options expiration day

The holiday calm has been shattered. At 16:00 Beijing time on December 26th, Bitcoin options market will face the largest expiration day in history—contracts with a nominal value of approximately $23.7 billion will expire simultaneously. Such a level of expiration is usually a trigger for volatility explosions and can even accelerate the trend in one direction.

This also explains why the derivatives market is so dangerous right now. The threat of liquidation hangs overhead: if Bitcoin effectively holds above $89,000, the liquidation scale for short positions on exchanges could reach $518 million; conversely, if it falls below $86,000, the liquidation strength for long positions might hit $603 million. The energy from options expiration is likely the finger that triggers these liquidations.

⎇ Ethereum still stuck below the $3,000 threshold

Unlike Bitcoin’s breakout momentum, Ethereum is still firmly held below the $3,000 mark, trapped in a narrow range of oscillation. This precisely indicates that the current market risk appetite has not fully opened up, and capital and attention remain more focused on Bitcoin.