Deribit 平台将在北京时间明天 16:00 迎来超过 28.5 亿美元的加密期权到期。其中，比特币（BTC）期权名义价值为 25.4 亿美元，最大痛点价格为 9 万美元。以太坊（ETH）期权名义价值为 3.16 亿美元，最大痛点价格为 1800 美元。

<div>Deribit 平台将在北京时间明天 16:00 迎来超过 28.5 亿美元的加密期权到期。其中，比特币（BTC）期权名义价值为 25.4 亿美元，最大痛点价格为 9 万美元。以太坊（ETH）期权名义价值为 3.16 亿美元，最大痛点价格为 1800 美元。<br><br></div>

Deribit：28.5 亿美元 BTC 和 ETH 期权即将到期，BTC 最大痛点为 9 万美元

Deribit platform will welcome over $2.85 billion in crypto options expiration at 16:00 Beijing time tomorrow. Among them, Bitcoin (BTC) options have a notional value of $2.54 billion, with the maximum pain point price at $90,000. Ethereum (ETH) options have a notional value of $316 million, with the maximum pain point price at $1,800.

<div>Deribit platform will welcome over $2.85 billion in crypto options expiration at 16:00 Beijing time tomorrow. Among them, Bitcoin (BTC) options have a notional value of $2.54 billion, with the maximum pain point price at $90,000. Ethereum (ETH) options have a notional value of $316 million, with the maximum pain point price at $1,800.<br><br></div>

Deribit: $2.85 billion of BTC and ETH options are about to expire, and BTC’s biggest pain point is $90,000

Another case of "address poisoning," causing one user to lose $50 million. Photo: Techradar
The attack caused a shock.
A cryptocurrency user lost nearly $50 million USDT after mistakenly transferring the funds to...

Another case of "address poisoning," causing one user to lose $50 million.

Today we saw gold, silver, and palladium all hit new highs! Since the correction at the end of October, gold has been trading above the 25-35 day moving average; silver is rising along the four-hour moving average; and palladium is rising along the three-day moving average.
Synchronization: This "synchronized new highs" usually signifies the start of a major trend. Gold provides "stability," silver provides "elasticity," while the addition of palladium indicates a dual surge in industrial and investment demand.
In this clear upward trend, trading volume has not weakened significantly and no bearish structure has emerged. Don't try to short the short at the top; otherwise, you'll end up with...

Market Analysis | Gold, Silver, and Palladium Hit New Highs! How High Can They Go!?

Chapter 1: Executive Summary and Industry Landscape Analysis
As of December 19, 2025, the global digital asset mining sector is undergoing the most profound structural transformation since the birth of Bitcoin. With Bitcoin's price retreating to the $86,000 range after reaching an all-time high of approximately $125,000 in October 2025, and the total network hashrate surpassing the 1,000 EH/s mark, mining companies face the dual challenges of compressed profit margins and surging capital expenditures in the "post-halving era."

1.1 Industry Differentiation

Figure 1: Analysis of the Relationship between Hashrate and Market Capitalization of Major Mining Companies in 2025

The above figure clearly shows the current...