The Christmas holiday has begun in Europe and America, and traditional markets are entering a period of closure. In contrast, the cryptocurrency market has shown a significant increase driven by Bitcoin. During the Christmas holiday until the year-end settlement, liquidity is relatively poor, and the market's rise and fall require less momentum.

In terms of options, the short-term implied volatility is still lower compared to yesterday, and market makers are nearing the end of their position adjustments. Before the end of the year, the primary tone for implied volatility will be stability.

Currently, the biggest pain point for BTC is $84,000, and for ETH, it is $3,000. From the current perspective, the annual biggest pain point will definitely be invalidated, just like in previous years.