The crypto market is experiencing a downturn marked by increased volatility and declining equity prices, particularly in the US. Key observations: Bitcoin and Ethereum’s implied volatility has surged significantly as investors adopt a defensive stance. Put options trading volume has also spiked, signaling market caution. The decline in MicroStrategy shares contributed to the overall drop in crypto-related equities. Macro researcher Adam from Greeks.live reported this trend on September 4th, citing increased short-term IV for both BTC and ETH (reaching 40% and 70% respectively), highlighting market anticipation of higher volatility. This downturn mirrors past September downtrends, a time traditionally associated with weak capital inflows and cautious market sentiment. While Bitcoin currently trades at $110,337.25, its price has dropped by 1.62% over the past 24 hours, with trading volume down 7.10%. Analyst predictions suggest this volatility surge might lead to regulatory re-evaluation of current frameworks, while institutional investors may adjust their hedging strategies in response.