#数字资产市场动态 Just witnessed a major event—the market experienced an astonishing scale of options expiration and settlement, with options contracts for $BTC and $ETH totaling approximately 28.5 billion.

All major platforms emphasize that "bullish sentiment is prevailing," but I have a different view. From my perspective, this wave of options settlement is more like a bearish signal rather than a savior for the bulls.

The key is how it unfolds afterward. If, after the settlement, $BTC cannot break through the 90000-90500 level, then the so-called "overall bullish outlook" becomes a joke. Once it falls below this level, bears may take control, with targets directly at 86500-85000. If this zone also collapses, the entire rebound structure will be essentially invalidated, and the downward momentum will accelerate sharply.

The true market trend doesn't actually rely on events like options expiration to drive it. Markets artificially pushed up by such events often fall sharply once the event is over—that's a vicious cycle.

From another perspective, this options expiration for longs is more like a "graduation ceremony" rather than the "first lesson of the new semester." After the ceremony, everyone goes their separate ways. In practical trading, I remain highly alert to any upward breakouts and closely watch key support levels. Only a break below important levels marks the true start of trend trading. The performance of $ETH and $BNB also warrants simultaneous observation.