The cryptocurrency market has shown a complex trend recently. After a significant pullback the previous day, Bitcoin experienced a slight rebound today. However, the overall market sentiment remains cautious, with Bitcoin briefly reaching a near seven-week low of $108,719, falling below the important 100-day moving average. This breach of the technical indicator has raised concerns in the market about further downtrend.

At the same time, Ethereum has shown strong resistance to falls. Against the backdrop of a general market decline yesterday, Ethereum not only halted its downward trend today but also recorded a 1.21% increase. This performance reflects that during the current market adjustment period, investors may be more inclined to increase their allocation to Ethereum.

It is worth noting that today's market focus is on the upcoming expiration of $14.6 billion in Bitcoin and Ethereum options contracts. Data shows that Bitcoin options exhibit a clear bearish tendency, with investors seemingly placing more emphasis on protection against downside risks. In contrast, the options structure for Ethereum is relatively balanced, showing no significant bullish or bearish preference.

The differentiated structure of this options market may further intensify the divergence in the short-term trends of Bit and Ethereum. Bit may face greater downward pressure, while Ethereum is expected to remain relatively stable.

However, considering the high volatility of the encryption currency market, investors still need to remain vigilant and closely monitor market trends and potential risk factors. The market trends in the coming days will provide us with more clues about the development trends of these two major mainstream encryption currencies.