A historic $27 billion Bitcoin and Ethereum options expiry is resetting the crypto market today. With dealer hedging fading and upside strikes stacked above $100K, volatility could be about to return. Here’s what to watch.

Bitcoin surged above $89,000 before pulling back sharply as the Bank of Japan shocked global markets with a rare rate hike. With ETF inflows rising and regulation turning favorable, is this volatility a warning — or a setup for the next leg higher?