#比特币技术面分析 The $23.6 billion options expiration is coming tomorrow, and the scale is indeed a bit outrageous. After market makers unwind their positions, the existing support and resistance levels will temporarily fail, and volatility is almost certain to be amplified. But there's a detail worth pondering — a bullish divergence signal appears between capital flow and price momentum.

Simply put: although the price is falling, the rate of capital outflow is smaller than expected. Historically, four such divergences have been associated with rebounds or even trend reversals. Of course, considering that the current market sentiment is still in the recovery phase, the probability of a short-term rebound is higher.

The real opportunity lies in the range of 80,000 to 82,000. If BTC retraces to this level and both technical and capital indicators give signals, it might be worth considering a light position to catch the rebound. But the prerequisite is to have a solid stop-loss plan — events like options expiration often bring sudden volatility, and without sufficient risk management, it's best not to push through.

The key still depends on how participants reallocate their bets and what new capital structure the market will develop. That is the core factor determining the subsequent market trend.