In crypto news today, the markets are bracing for a spike in Bitcoin volatility as approximately $2.6Bn in options contracts are set to expire across major exchanges. Bitcoin USD is currently holding firmly above the $70,000 threshold, but derivatives data indicate a potential gravitational pull downward toward the ‘max pain’ price of $69,000.

With 31,700 Bitcoin contracts and 184,000 Ethereum contracts rolling off the board, traders are watching closely to see if the 08:00 UTC settlement triggers a relief rally or a short-term correction.

The expiry comes as spot markets attempt to consolidate after adding +$150Bn to the total market cap earlier this week, as it reached $2.5 trillion once more.

Prices have been cooling off since…