This calendar spread strategy is worth analyzing in detail. By using cross-term option combinations, it has accumulated premium income from 22 BTC, and the underlying logic is quite clear—there is a definite judgment on Bitcoin's short-term trend.

What is the core expectation? BTC is unlikely to sharply drop back below 75k in the short term; instead, there is room for a moderate increase. Looking further into the medium term, breaking above 100k is a more certain direction.

Splitting the timeline based on this idea: around February, BTC is expected to fluctuate within the 75,000-100,000 range, leaving enough buffer for the strategy. By March, if the momentum is smooth, it might push towards a new high of 105,000. This phased upward logic provides support for option income.

How about the risk side? If an unexpected crash occurs at the end of February, dropping below 75k, the entire strategy framework will come under pressure. Essentially, this plan is betting on a "moderate upward path" probability—not aiming for a big surge, but seeking orderly progress. For traders accustomed to high-volatility trading, this steady premium accumulation approach can actually bring more controllable return expectations.