This Friday will witness a major event in the crypto market—the options expiration volume reaching $28.5 billion, doubling compared to last year. The Bitcoin portion alone accounts for the majority of Deribit exchange's open interest, which is also rare in history.

From a market perspective, such concentrated expirations can indeed bring volatility. Especially during periods when liquidity is already thin due to holidays, price swings may significantly amplify. However, from another angle, this also presents a good opportunity to observe market resilience. The continuous expansion of derivatives volume not only reflects the deepening of the crypto market but also indicates the accumulation of risk factors.

For participants, the strategic points are clear. First, maintain a stable mindset and avoid being led by short-term fluctuations. Second, take proactive actions rather than passive responses—monitor market trends in real-time and adjust positions flexibly according to your risk tolerance. If conservative, consider reducing positions and observing; if experienced and confident, and seeking opportunities amid volatility, make sure to set proper stop-loss and take-profit levels, and execute discipline—this is the lifeline.

Ultimately, large-scale expirations are both a test and a touchstone. Those who have solid risk control and strong operational discipline usually turn market turbulence into opportunities. Staying rational, managing risks well—these are the secrets to long-term survival in the derivatives market. Market opportunities are always there, but only by surviving long enough can you have the capital to seize the next wave.