$BTC Next Friday, options worth $28.5 billion for Bitcoin and Ethereum are set to be delivered, a scale that is double that of the same period last year. At first glance, this looks like a regular expiration, but in reality, it is a real "battle for pricing power."

The industry has long been aware that Wall Street has already laid out complex hedging strategies. During the Christmas holiday when liquidity is already tight, the delivery of this huge position will directly amplify market volatility. To put it simply, the price of Bitcoin is no longer a decentralized consensus price; it is increasingly being "bound" by options desks and quantitative models. They calculate using Greek letter formulas, and our positions are just a number in their data tables.

In this game where professional institutions battle against each other, individual investors, who are at a disadvantage in terms of information and tools, should consider a different approach rather than confronting directly:

First, don't play with high leverage before and after delivery. Reduce your position or observe temporarily, and don't become cannon fodder under the volatility.

Second, invest the money in spot trading. Bitcoin and Ethereum spot trading is the simplest and most straightforward; just hold it and that's it, using the most direct way to counter the most complex financial games.

Third, if the market experiences excessive selling after delivery, it may actually be an opportunity to get in. Irrational declines often hide long-term buying points.

When the rules of the game turn into a derivatives war, your way of survival is not to learn how to build nuclear bombs, but to find your own safe position. The wealth opportunities in the coin circle do exist, but the prerequisite is to live long enough.