On December 29th, Ethereum experienced a significant market anomaly. Through in-depth analysis of options data, we found that the logic behind this market movement can actually be tracked and replicated. Using Greeks data to read the market, the key is to capture signals of changes in options positions—this reflects the true expectations of large funds. When Delta, Gamma, Vega, and other indicators all point in the same direction, it often means that major players have already made strategic arrangements. For traders, learning to infer the trends of spot and futures markets from the microstructure of the options market can significantly improve trading success rates. Ethereum's recent anomaly is a typical example.