The 23.6 billion scale Bitcoin options are about to expire. Looking back at the five major option expiration dates over the past three years (all exceeding 5 billion), I have gradually figured out a pattern. Each time before expiration, the market tends to decline first, then on the expiration day there will be a sharp spike, followed by a rebound after expiration. It sounds very regular, but reality is cruel—90% of those blindly following the trend and going long have been wiped out. And those who panic and liquidate in a rush, 80% of them ultimately missed out. The current market is already sluggish, and market makers will definitely be more ruthless in harvesting. So this expiration might be more fierce than any previous one.