The current price of Bitcoin is in the positive gamma zone, while Ethereum is in the negative gamma zone. Bitcoin's surge to 100K is still the main theme, whereas Ethereum is more likely to experience severe fluctuations, aiming for 3800. The price of Solana is at the boundary between positive and negative gamma; if it breaks through 220, there may be a rapid increase, with 240 acting as a resistance line.

Overall, the gamma levels of options are in a relatively stable phase. The implied volatility of various products is decreasing, indicating a phase of double selling profits and buyer positioning.

The Federal Reserve's meeting at the end of January will be an important milestone. Whether or not to cut interest rates could reverse subsequent trends. Beware of black swans, and position to ambush tail risks; risk is also opportunity, isn't it? $SOL $ETH