There is a noteworthy date to watch — December 26th, the day after Christmas. At that time, a large number of options positions will expire and settle. Based on the current gamma distribution, approximately three-quarters of the open interest will disappear on that day. What does this mean? Once this point is crossed, the market pressure will be fully released. The recent performance has been quite interesting; the period after 4 PM has been particularly active, with many positions expiring, and signs of support and resistance lines beginning to loosen. On the Bitcoin side, with these large positions expiring, the short-term technical outlook may undergo significant changes. Recent Federal Reserve policy expectations and adjustments in the options market are reshaping the microstructure of the market. The key is to see which direction the market will move after this point.