On Friday, $14 billion worth of Bitcoin options open contracts will expire.

He pointed out that the ratio of put options to call options for this expiring contract is 0.69, meaning there are 7 put options for every 10 call options. This indicates that there is a certain level of concern about a market downturn.

At the same time, the number of expiring contracts (146,000) is also considerable, double the number of contracts expiring in March 2025 (73,000).

Striiers further explained that the expiring contracts account for 44% of the total open contracts for Bitcoin options, with a total amount of $32 billion.

Deribit exchange expects that over $4 billion in contracts will expire, which will inevitably trigger a large amount of trading activity.

Deribit's volatility index (DVOL) has recently experienced significant fluctuations. Striiers points out that this indicates a considerable divergence among traders regarding the future market trends.

Striiers emphasized: 'The previously dominant bullish momentum is weakening, and the market is currently in a state of high-leverage upward movement. If a significant drop occurs, it could trigger a rapid backlash effect. Everyone’s attention will be focused on the upcoming options contract expiration date, as it may set the tone for market trends in 2025.'

Bitcoin technical analysis

Bitcoin's price confirmed a breakout above the $95,195 level, with the daily candlestick closing below that level, enhancing expectations for continued bearish correction in the coming trading days, with a target price of $90,750, followed by the $87,055 level.

The bearish wave suggested by the intraday bearish channel organization received good support from EMA50. It is noted that falling below $95,195 and then probing down to $96,555 will prevent a negative scenario and guide the price to attempt to restore the main bullish trend again.

The expected trading range for Tuesday is between the support level of $91,000 and the resistance level of $96,000.

The trend forecast is bearish.

The altcoin season is gradually heating up, Bitcoin's price is falling, while altcoins have not fallen in sync. This phenomenon sends a clear signal. Currently, altcoins are showing a trend of not being able to decline further, and even some mainstream coins are gradually rising back to previous highs. Popular coins are also worth paying attention to and should be allocated at the right time.

The current market is still in a bull phase, and what we are experiencing is a routine adjustment within a bull market. If the overall market rises while some altcoins stagnate or even start to fall, it indicates a potential short-term top; conversely, if Bitcoin's price falls while other altcoins do not follow suit or even rise against the trend, it indicates a potential short-term bottom. A new round of altcoin season is about to begin. The market will mainly showcase altcoins, and we can focus on going long on Grayscale. If the altcoin season arrives, they will all rally, and Grayscale's favorites will definitely outperform other coins because Grayscale will help elevate their prices.

Today, I want to focus on: ZEN and LPT.

These two coins are currently surging! On December 20, I already took everyone on a wave with ZEN, generating a profit of 71 points! In this article (The Bullish Top is Still Far Away! The Altcoin Myth Has Emerged! Join the Coin Circle Group Without Threshold!!), I mentioned that after ZEN, Grayscale will buy LPT, and LPT will eventually rise like ZEN; set up your position in LPT, which also has 50 times the potential! Sure enough, LPT took off with the trend, and my followers enjoyed another wave of full profits, feasting abundantly!

Grayscale has only two favorites: one is ZEN, and the other is LPT. In the short term, I will only heavily promote these two coins, blindly going long on Grayscale. First, pump ZEN, then pump LPT. A spiral rise; those with small risk appetites can set up positions in LINK.

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The main upward trend of the Grayscale holdings has not changed and continues to extend towards an upward trend. In this process, a shoulder-top pattern has appeared, which is usually a false pattern in the mid-term of an uptrend, used as a trap!