This afternoon at 4:00 PM, the world's largest options settlement will take place, valued at approximately $23.7 billion. Based on past settlement trends, significant volatility is often observed afterward, with the market tending to move in a single direction, likely ending a period of over a month of wide-range consolidation!

Overall, the market remains within a consolidation box. The moving averages show a golden cross, and the candlesticks exhibit bullish engulfing patterns. Smaller timeframes show a rebound demand, but without volume support, the upward movement won't go too high. Currently, it’s best to treat it as consolidation. A pullback that does not break below the small level of 87,800 could still rebound; pay attention to this level.

Trading suggestions:

BTC: Short around 88,800-89,500
Target: 87,800-87,300

ETH: Short around 2,980-3,030
Target: 2,880-2,830