$18.6 billion betting game, only 2 days left: Bitcoin bulls are being "cut to the bone" with a dull knife. Are you still foolishly waiting for a surge?

Brothers, listen to me.

This is no longer October last year, nor the bull market's first half where you could just buy a coin and wait for double returns. The current market is staging a "big survival game" that makes your palms sweat.

Today, I won't waste words. I'll tell you about an ongoing, $18.6 billion "massacre" happening on the eve.

On Friday, just two days away, $18.6 billion worth of Bitcoin options are expiring.

Let me translate for you—what does "despair" look like?

Where is Bitcoin now? Struggling at around $70,900. Meanwhile, the bulls holding $11.2 billion in call options originally hoped to make a fortune from this move. But what’s the reality?

92% of the call options will be worthless if Bitcoin stays below $71,000 on Friday!

This isn't an alarmist statement; it's cold, hard data from Deribit. Those brave warriors who in February shouted "see $100K" and heavily bet on $90,000 and $100,000 options when Bitcoin was still at $86,000—probably don’t even have the courage to check their accounts now.

This is the reality: what you think is bottom-fishing is actually fueling the bears.

And what’s even more heartbreaking? The bears’ ammo depot keeps replenishing.

Did you hear about the recent trouble in the U.S. $3 trillion private credit market? Redemption restrictions, liquidity cracks. What does this signal? It means the macroeconomic string is tightening with a screech. Funds are panicking, looking for exits. And these "smart money" fleeing traditional markets are stabbing the bulls in the back.

The current situation: bulls are trapped in a cage between $67,700 and $71,600. To break out, they need a 6% rally to above $75,000 to turn the tide. And there’s less than 48 hours left.

Less than 48 hours, a 6% increase.

Do you think that’s easy?

If you think it is, look at the candlestick chart. Over the past week, Bitcoin’s movement has been like a marionette, tightly following the reaction of US stocks to that damn war. It has no independent backbone.

Now, the bulls are like a ball pressed underwater—every time they try to surface for air, the bears slap them back down.

Let’s do a little fortune-telling and see which of these four scenarios is most likely to happen on Friday:

- Drop to $65,000–$69,000? Bears net $1.8 billion profit. Ouch.

- Hover between $69,001–$72,000? Bears still net $950 million. Dull knife cutting meat.

- Strive to reach $72,001–$75,000? Bears still profit $430 million. Wasted effort.

- Only if a miracle happens and it surges above $75,001–$80,000, can bulls reverse and make $790 million. Dream on.

See it? The current market isn’t about who makes more; it’s about who loses less.

I’m not trying to create anxiety here. I want you to see a fact:

Stop parroting clichés like "institutional entry" or "halving" as talismans. The game now is so refined that options bets are measured in "hundreds of millions of dollars," and your spot holdings are just "fuel" for derivatives in their eyes.

The biggest illusion retail traders have is thinking they’re playing the same game as the whales.

You’re still calculating, "If it drops to $68K, I’ll buy more," while they’ve already calculated in the derivatives market how to push you to the position that maximizes their options’ value.

The cruelty of this cycle is: either you understand the logic of cutting and bleeding better than the whales, or you admit you can’t beat them and don’t become someone’s meat before dawn.

This Friday’s move—will it cut the bulls or the bears?

Remember this: at the gambling table, when you don’t know who the fool is, that fool is you.

Don’t let your position become the chips used to fill the hole in this $18.6 billion betting game.

See you on the weekend. Good luck. #Gate正式接入Polymarket $BTC