2025-12-22 18:23:05

This Friday (December 26), over 23.6 billion USD worth of Bitcoin Options are set to expire, marking the largest single-day Options expiration event in BTC history. This point in time is worth following for traders holding exposure to encryption assets.

The market logic of options expiration is very straightforward—large positions either become worthless or force the spot market to react with hedging, which could lead to a sell-off or a rally. With a risk size of 23.6 billion USD being released all at once, market makers need to clear their corresponding massive position exposure, and in this process, market volatility will naturally be amplified.

Benchmarking against historical data, the past Options expiration sizes usually range from tens to over a hundred billion dollars. The current scale of 23.6 billion indicates that the market has entered a new stage dominated by institutions, and the extent of risk repricing has also been upgraded.

During the holiday period, liquidity is relatively depleted, and a slightly larger order can trigger severe price fluctuations. According to past patterns, there will be significant volatility before expiration, while the true directional trend often becomes clear only after the expiration date. Major cryptocurrencies such as SOL and ETH may also face pressure during this period due to their correlation.

It is recommended to closely follow the market performance this Friday and prepare for risk management.

BTC-0.74%

SOL-2.26%

ETH-1.6%

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gm_or_ngmi

· 13h ago

23.6 billion? Is this for real? How much dumping has to happen for this? --- Holiday liquidity exhaustion + super large options expiry, Friday might be a bloodbath. --- Institutions getting on board is different, the risk scale doubles directly, we retail investors should just hang in there. --- Fluctuation before expiry, clarity only after? I've seen this tactic, it's betting on our mindset exploding. --- SOL and ETH will also suffer, I'm really annoyed by this correlation. --- 23.6 billion released all at once... market makers must be going crazy, let's just wait and see the show. --- It's already hard to act during holidays, and now this happens on Friday, might as well just take a holiday and relax. --- The largest scale in history? Should we short or go long, who can give a definite answer? --- Risk repricing upgrade = retail investor Cut Loss upgrade, this logic makes sense. --- If there really is a wave on Friday, the crypto world will make headlines again, saying "crashed again."

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ZKProofEnthusiast

· 12-22 18:51

23.6 billion dumped directly? We really need to keep an eye on the market this Friday. Something's off; the market can still be messed with during the holidays. There will definitely be fluctuations before the deadline; I bet the probability of dumping is higher. Why does SOL and ETH still have to go down with it? It's too tragic. Have you set your stop loss? This time is different. It's the largest scale in history; institutions are really ruthless. This Friday, you either get rich or get liquidated; there's no middle option. Liquidity exhaustion + huge positions, this combination is insane. You can't avoid it; it just depends on whether you can profit from this wave of fluctuation. 23.6 billion? How many people will get liquidated? Coming out with this during the holidays, aren't you afraid of it dumping through the bottom?

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RektRecorder

· 12-22 18:44

23.6 billion directly dumped, my short order is going to da moon Wait, institutions are building a position? Then I might get reverse blown up The liquidity is really dried up during the holiday, one order can dump out a big market No sleep on Friday, watching the market waiting for the drama Historically the largest scale, this time is really different, feels like something is going to happen SOL and ETH are plummeting together with BTC, I saw through it long ago It's indeed easy to see crazy fluctuations around the expiration, it tricked me once last year Institutions are getting more aggressive getting on board, the retail investor's maneuvering space is getting smaller 23.6 billion risk is released, this wave of volatility is directly taking off, market makers are going to go crazy Holiday trading is already easy to get harvested, must be more careful on Friday

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SerumSurfer

· 12-22 18:30

23.6 billion get dumped directly, we'll see who catches a falling knife on Friday. I'm afraid Friday might see another wave of suckers being played. Institutions are really playing with fire, this fluctuation is ridiculously large. With liquidity being so poor during the holiday, they still dare to play like this, that's really bold. Betting that Friday won't directly fall to the limit... it's hard to say.

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