Today, approximately $5 billion worth of Bitcoin and Ethereum options are set to expire, which is no small amount. Looking back at previous options expirations, they often trigger a round of intense volatility, whether it is a rally or a crash, and extreme conditions can easily occur. Meanwhile, the market capitalization ratio of altcoins and the level of market leverage have both been pushed close to new highs, indicating that investor sentiment is quite aggressive, but this also means that risk is accumulating rapidly. When the market enters a harvesting phase, there is often a liquidation of this excessive leverage.

In the upcoming period, capital games will become more intense, and market conditions may also become more extreme. In such an environment, chasing highs and cutting losses can easily lead to being misled, especially with altcoins. At this time, it is advisable to avoid opening high-leverage contracts.