The hustle and bustle of the Christmas holiday has not fully dissipated, but the crypto market is already surging with undercurrents. Currently, Bitcoin is hovering around $87,000, seemingly calm on the surface, but in reality, a massive options expiration storm is brewing.

Today is December 26, 2025. This date is not particularly special, but what happens next could change the entire market trend.

How outrageous is the scale? Let the data speak—today's Bitcoin options contracts expiring amount to 300,000, with a notional value of $23.7 billion. Plus Ethereum options, the total expiration scale reaches $28.5 billion. This number is twice that of the same period last year.

Why should we pay attention to this? The principle is simple: such a large concentration of options contracts expiring inevitably leads traders and market makers to perform massive closing, rolling over, or hedging operations. Imagine hundreds of billions of dollars in positions moving simultaneously—how would market volatility react? Usually, it amplifies directly.

This kind of scenario has occurred many times in history. The US stock market is a vivid example—on December 19, 2025, the options expiration scale exceeded $7.1 trillion, and the S&P 500 battled at 6,800 points. While the scale of options events in the crypto world isn't as exaggerated, it is a market more prone to extreme fluctuations.

So, keep a close eye on the market tonight. There are likely to be some interesting developments.