The recent expiry of significant Bitcoin and Ethereum options contracts highlights increasing market volatility, according to data from Greeks.live. A staggering 26,000 Bitcoin options and 220,000 Ethereum options have expired recently, with maximum pain points at $84,000 for Bitcoin and $1,850 for Ethereum respectively. Notably, implied volatility has surged significantly across both cryptocurrencies, with Bitcoin’s term volatility exceeding 50% and Ethereum’s remaining around 65%. Market sentiment remains subdued, raising the possibility of a significant market event. This is further evidenced by the growing number of bearish options trades and increasing open interest.