This wave of 23.7 billion USD BTC options expiration has finally settled. Over the past few weeks, Bitcoin's price has oscillated repeatedly between 85,000 and 90,000 USD, lacking a clear direction. In simple terms, this massive options position has been causing trouble behind the scenes. Now that the expiration date has passed, this invisible pressure instantly dissipates, and the market that was tightly locked up finally can breathe.

Remember the abnormal fluctuation on a major exchange's USDT trading pair this morning? The price suddenly plummeted from 87,000 to 24,000, then quickly rebounded. Although it seemed like a false alarm, the signals behind it cannot be ignored — the market's liquidity vulnerability has been fully exposed. This anomaly was actually a preview of the liquidity pressure after the expiration.

Don't be scared off by these short-term intense fluctuations. Options expiration is essentially a market reset. It doesn't determine the long-term direction of BTC's price, but it does tear off the previous layer of concealment on the price. Market makers have been trading wildly to hedge their risks, trying to push the price down. Once the expiration is complete, this hedging mechanism immediately fails, and the supply-demand relationship reasserts control over the market. Interestingly, technical indicators are already starting to show bullish signals, with selling pressure gradually weakening.

For all traders, these three bottom lines must be remembered:

First, extreme volatility may occur within the first few hours to a day after expiration. If you're trading with high leverage, now is the time to seriously consider taking profits or cutting losses.

Second, keep a close eye on the 85,000 to 88,000 USD range — this is a very strong support level. Once it breaks downward, risks will emerge.

Third, look at the bigger picture. What does this 23.7 billion USD options expiration tell us? It indicates that the market depth is sufficient, and institutional participation is high enough. Short-term technical fluctuations are just noise; ultimately, the trend will be determined by macroeconomic fundamentals and capital flows.

Markets change rapidly, and the biggest risk in trading is missing out or getting caught in a trap. Constantly monitor market dynamics and seize every key technical turning point. In the crypto world, where risk and opportunity coexist, being one step ahead of information can mean earning twice as much.