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Data analyst Murphy stated that approximately $23.6 billion worth of bitcoin options will expire on December 25, marking the largest options settlement in bitcoin's history. After market makers unwind related hedging positions, the support and resistance formed by the options structure may temporarily fail, potentially increasing BTC volatility in the short term until the market's capital structure readjusts. Murphy pointed out that if BTC pulls back to around $80,000 to $82,000, there may be a short-term rebound opportunity. Currently, there are bullish divergence signals on the small-scale price and capital inflow gradients, indicating that the downward trend may correct and there is a demand for a rebound. Historical data shows that similar signals have often accompanied rebound rallies or trend reversals, but current market sentiment remains bearish, making a rebound more likely.

according to Whale monitoring, at 18:29:11 East 8th District time, the USDC Treasury burned 60 million USDC on the Ethereum chain.

BlockBeats News, December 25, data analyst Murphy stated that approximately $23.6 billion worth of bitcoin options will expire tomorrow, marking the largest options expiration date in bitcoin's history. After market makers unwind related hedging positions, the support and resistance previously formed by the options structure will temporarily become invalid, which may amplify BTC volatility in the short term until all participants place new bets and the market forms a new capital structure. If BTC pulls back to the previous bottom area (around $80,000–$82,000) during this period, it will present an opportunity to bet on a "short-term rebound." The volatility that appears during the capital structure vacuum period does not necessarily signal the start of a new round of sharp declines. Moreover, there are currently "bullish divergence" signals appearing on a small scale in the "price and capital inflow gradient." The "price and capital inflow gradient" measures the relative momentum change between BTC price momentum and actual capital inflows. When the speed of capital outflow is smaller compared to the rate of BTC price decline, it can be interpreted as a correction to the downward trend, indicating a demand for a rebound. After the four "bullish divergence" signals that appeared during 2024–2025 and 2021–2022, BTC experienced rebounds of varying degrees, and even trend reversals. However, considering that the overall market sentiment is still in a bearish correction phase, the probability of the former is greater.