According to online reports, Adam, a macro researcher at Greeks.live, wrote an article on the X platform that Europe and the United States entered the Christmas holiday and traditional markets were closed, but the crypto market driven by bitcoin saw a significant increase. Due to poor liquidity during the holidays, the market requires less motivation to rise and fall. In terms of options, short-term implied volatility continues to decline, market makers move positions is coming to an end, and volatility is expected to be mainly stable before the end of the year. Currently, the maximum pain point for BTC is US$84,000 and ETH is US$3,000, but the annual maximum pain point may expire, which is similar to the situation in previous years.