Today, the Bitcoin options market is heating up. Approximately 300,000 BTC options contracts are about to expire, with a corresponding notional value of $23.7 billion. Combined with Ethereum options contracts expiring on the same day, the total scale easily surpasses $28.5 billion — twice the amount from the same period last year. Traders are all watching this number closely, as such a massive options settlement often stirs the market. Options expiration dates have always been catalysts for price volatility, especially on such a large scale, and the market has been building momentum from a state of calm. Some analysts believe that it will be difficult to see a smooth trend today.