The market pulls back. As options settlement approaches, capital moves to reduce risk early.

The broader market falls across the board, with profit-taking from the highs being concentrated in the market. After a sharp rally, the market has entered a period of sideways consolidation and “washout.”

$BTC : From the high, it has pulled back, breaking below the short-term moving average. The MACD forms a bearish cross, and the OBV drops sharply. The key pressure comes from derivatives—on Friday, nearly $16 billion worth of BTC options are set to expire, with Call positions holding the advantage. Market makers may hedge risk, which could intensify short-term volatility, prompting capital to withdraw early to avoid risk. Around 84,000 is the key line of defense for near-term trading.

$ETH : The drop is close to 3%, and high volatility has translated into a high drawdown. Its price action is highly tied to BTC, and it has not managed to break out into an independent trend. The technical picture weakens in tandem. Overhead moving averages have already formed resistance, and time is needed to rebuild momentum.

$SOL : The decline is the deepest. In addition to following the broader market pullback, within the ecosystem Forward Industries is reportedly planning to raise $25 million. In a choppy market, investors interpret it as potential supply pressure, leading to a decisive exit to avoid the risk.


This is a normal pullback after a strong surge, combined with the risk-off demand ahead of options settlement. It’s a process of deleveraging and washing out “floating” positions—not a trend reversal. Position management comes first. Wait until derivative settlement pressure has dissipated and stabilization signals appear before considering further moves. #BCH因CME期货上线涨约28% #华尔街盈利预期23周来首现看空 #比特币两度受阻87300美元 💬After the settlement, how do you think the market will move?