As the end of the year approaches, multiple unfavourable information factors are stacking up—tax loss selling, options expiration, and macroeconomic uncertainty, leading to the accumulation of short-term market risks. Deribit has $28.5 billion in options contracts expiring this week, and such timing often accompanies a rise in fluctuation. Historical experience shows that an increase in fluctuation usually signals an impending reversal. Therefore, it is important to be more cautious during this phase and not be tempted by the market to increase leverage; managing the position in hand is the key.