## Options Expiration Triggers Bitcoin Volatility, $23.6 Billion in Massive Positions Await Settlement

Tomorrow marks the largest options expiration in Bitcoin history—$23.6 billion worth of options contracts are about to expire. What hidden secrets lie behind this market event? Let’s start by understanding how options work.

**Why Is Options Expiration So Important?**

Options are derivative contracts that give holders the right, but not the obligation, to buy or sell an asset at a predetermined price on a specific date. When a large number of options contracts expire simultaneously, market makers need to close positions—simply put, protective positions they previously established to hedge risk are being unwound. This is like an invisible hand supporting the price suddenly letting go. Once this "invisible support" is removed, price volatility can sharply increase.

**Current BTC Situation and Market Expectations**

BTC is currently priced at 91.26K, with a 24-hour increase of 1.32%. Against the backdrop of $23.6 billion in options about to settle, market participants are speculating—will the price drop to the 80K–82K range?

**Secrets Revealed by On-Chain Data**

Although the price has recently been under pressure, on-chain data shows a "bullish divergence": trading volume is shrinking faster than the price is falling, indicating selling pressure is easing and market panic has been fully released. Historical data shows that whenever such signals appear, rebounds tend to follow. This pattern has been validated in the past four trading cycles.

**Short-Term Trading Opportunity Window**

If options settlement causes the price to fall back to the 80K–82K range, it could be an excellent low-entry point for positioning. This is not the start of a sharp decline but rather a trigger for a rebound. Trading strategy: set price alerts in this zone, prepare small positions, and quickly enter and exit to capture rebound gains.

**How to Trade Options to Avoid Risks?**

For ordinary traders, the volatility on options expiration day can be quite dangerous. But understanding how options work allows you to profit and avoid pitfalls: avoid opening large positions on the day before settlement, wait for volatility to subside, then enter precisely. High-leverage options contracts carry the highest risk during such events; conservative investors should reduce leverage.

Volatility is both risk and opportunity—key is whether you are well-prepared. Focus on the 80K–82K support level; a breakdown of on-chain data and bullish divergence signals are the real danger signs.