$23.7 billion options settlement is approaching, and this number is enough to shake the entire market. Are shorts or longs more dominant? At a glance, the profits for the bears are clearly more substantial.

Looking back over the past two months, BTC has fallen from 110,000 to below 80,000, and the profits accumulated by the bears are quite substantial. But here’s the problem: to realize such large profits, there must be long positions to take over. The contradiction lies here — they need to maintain profit margins but also cannot let the opponents rebound too quickly, or their own paper gains will shrink.

Looking at the past week's trend makes this clear. Four attempts to approach 85,000, three pushes near 90,800, with bulls and bears frequently disturbing the market — in simple terms, it's a fierce battle of funds. Every rebound, every pullback, is a contest of strength between both sides.

After the settlement date, the mountain pressing on the longs is expected to be moved away. Based on this judgment, I took a long position at 89,000 — the original target for bottom fishing was 88,000, but the opportunity was rare, so I decided to go long nearby. With such large short-term fluctuations, sometimes you really can't wait.