The virtual asset market entered a period of adjustment during the holiday. Bitcoin (BTC) traded at 125.59 million won, down 1.39% from 24 hours earlier. In the short term, it is expected to maintain a range-bound trading pattern between 85 million and 90 million won.
Today marks the largest virtual asset options expiration date in history, with contracts worth approximately $2.37 billion to $2.8 billion expiring. On the Deribit platform, over 267,000 Bitcoin contracts will expire, with call option open interest significantly exceeding put option open interest (approximately a 3:1 ratio). Analysis indicates the most significant price point is around 95 million Korean won.
Ethereum (ETH) traded at 4.21 million Korean won, down 1.26%. A total of 1.28 million contracts are about to expire, with a put/call ratio of 0.45 and a maximum price threshold estimated at 3.1 million Korean won. As market attention shifts to March-expiring call options, future price movements are closely watched.
Ripple (XRP) is trading at 2,645 won, down 2.45%; Solana (SOL) is fluctuating around 175,206 won, but its percentage change data shows a temporary anomaly.
BlackRock, the world's largest asset manager, recently transferred 2,292 BTC and 9,976 ETH to Coinbase and then repurchased some of its assets. Market assessments suggest this move is a portfolio rebalancing rather than a simple sell-off, and its asset holdings remain at $77.6 billion.
Experts analyzed that, "Against the backdrop of reduced trading volume due to holidays, institutional investors' option expiration strategies may trigger increased short-term price volatility." They added, "Whether Bitcoin can break through the 85 million to 90 million won range will be a key variable determining the subsequent market direction."
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