Recent spikes in Bitcoin’s price volatility have raised eyebrows among market analysts. Jeff Park, a market analyst and advisor at Bitwise, suggests this surge could indicate a return to options-driven price action, characterized by significant swings in both directions. 📈 While historical data reveals Bitcoin’s implied volatility remained relatively low following the US regulatory approval of Bitcoin ETFs, this recent increase is approaching 60%, indicating a potential change in market dynamics. The analyst highlights the past example of Bitcoin’s explosive price movements in January 2021 as a prime illustration of options-driven price action leading to new highs for BTC. Park suggests that similar forces could be at play today, with volatility potentially reigniting this previously dormant trend. 📈