According to Wu Shuo, as reported by Greekslive, during the Christmas holiday, traditional markets enter a period of closure, while the cryptocurrency market has seen a significant rise driven by Bitcoin. Currently, the maximum pain point for BTC options is $84,000, and for ETH it is $3,000. However, based on market performance, it is highly likely that this year's annual maximum pain point will become ineffective, similar to previous years. Additionally, short-term implied volatility (IV) continues to decline compared to yesterday, and market makers are nearing the end of their position adjustments. It is expected that IV will remain stable before the end of the year. During the Christmas holiday and the delivery period until the end of the year, market liquidity is low, the power needed for price movements is minimal, and volatility may continue to be observed.