Crypto Giants Stumble as $3.1B Options Expiry Looms—Traders Brace for Impact

Bitcoin and Ethereum take a pre-expiry dip—because nothing says ’healthy market’ like volatility spikes before derivatives settle. Wall Street’s casino logic invades crypto yet again.

Key drivers: Whale positioning, gamma squeeze risks, and the usual suspects (read: leveraged gamblers) scrambling to hedge. ETH options volume hits 3-month highs while BTC open interest flirts with $20B.

The kicker? This expiry’s strike prices cluster around psychologically important levels—$60K for BTC, $3K for ETH—setting up a classic showdown between bulls and bears. Cue the algorithmic traders licking their chops.

Bonus cynicism: If you thought traditional finance’s obsession with derivatives was reckless, wait until you see crypto ’degens’ price discovery via options contracts. Satoshi would be proud.