BlockBeats news, December 27th: Yesterday was the annual major options expiration day, also the largest cryptocurrency options expiration day in history, with a cumulative notional value of approximately $280 billion. Although most analysts and historical data indicate that market volatility significantly amplifies after massive options expirations, possibly due to holiday effects, the market has yet to break free from the volatile ‘painting the door’ pattern.
According to HTX market data, Bitcoin retreated from $89,000 last night, briefly fell below $87,000 before rebounding above $87,000 to consolidate sideways, currently quoted at $87,405.
According to analyst Murphy, the $87,000 level is a short-term price point for substantial Bitcoin position turnover and is also currently the strongest support level in terms of position structure. As long as the massive volume bar maintains effective support, the direction will become clearer.
