Today marks a critical moment for crypto traders. Over $4 billion worth of Bitcoin and Ethereum options are hitting expiration.

This isn't just another Friday rollover. The sheer volume suggests institutions have been positioning heavily. When this much notional value expires simultaneously, it often acts as a catalyst.

Historically, major options expiry dates like this create inflection points. Markets tend to gravitate toward max pain levels beforehand, then break free once positions settle. The question isn't whether something happens—it's which direction momentum swings.

BTC and ETH have been consolidating for weeks. Volatility metrics stayed compressed. Now with billions in contracts closing out, that equilibrium breaks. Dealers need to rehedge. Positioning shifts. Liquidity patterns change.

Watch the next 24-48 hours closely. Price action post-expiry tends to reveal where the real conviction lies. Either we see a sharp breakout as suppressed volatility releases, or a fake-out that traps late movers.

Either way, $4B doesn't just vanish quietly from the derivatives market. Buckle up.