Around $6 billion in Bitcoin and Ethereum options are set to expire today, putting market resilience to the test as open interest and trader positioning hit new records. This key event may reshape price action for the largest cryptocurrencies, with heightened volatility possible ahead. Options Expiry in Focus: Scale and Sentiment Crypto derivatives markets face a pivotal moment as options expiry arrives during a period of subdued volatility and keen anticipation. The outcome could signal the prevailing sentiment for Bitcoin, Ethereum, and wider digital assets as the market prepares for key macroeconomic events
source: https://beincrypto.com/bitcoin-ethereum-options-expiry-volatility-2025/