#比特币趋势与价格分析 Seeing the largest $23.7 billion options settlement of the year this year, I am reminded of those classic cases from previous years. Every time before and after a major settlement, the market experiences an interesting process—suppressive sideways movement, followed by a sudden release.

Remember the $15 billion quarterly settlement in March 2024? Before the settlement, the price was firmly pinned in the 60-70K range, looking lifeless. But after the settlement, as gamma hedging was released, BTC quickly broke upward, eventually reaching a new high of $70,000. At that time, many traders chose to cut losses and exit during the suppression, missing out on the subsequent acceleration of the bull market.

This time follows a similar rhythm—holiday liquidity is thin, and prices hover narrowly between $85,000 and $90,000, with obvious gamma suppression. But according to historical patterns, once the settlement "cage" disappears, market volatility will significantly increase.

What I want to remind you is that these pre- and post-settlement opportunities often test your mindset the most. It’s not about chasing highs or selling lows, but about understanding whether your positions are reasonable. If your holdings are already near the limit, you should stay steady; if you still have room, consider whether you really need to chase in the volatility. Long-term investors won’t be thrown off course by short-term fluctuations.

Historical trends tell us that settlement days are often moments of testing, and also the end of the test. Instead of guessing how high it will go, it’s better to first ask yourself whether your portfolio is sufficiently robust.