Crypto derivatives market to see historic volatility spike today. Boxing Day marks the largest options expiry event in cryptocurrency history, with $27+ billion in Bitcoin options set to expire on Deribit—double the previous annual record.

The scale of this expiry is significant. When such massive option positions unwind simultaneously, it typically creates ripple effects across spot and futures markets. Traders are watching closely to see how price discovery plays out during this event. The concentrated expiry date suggests potential volatility as market participants adjust positions and risk exposure shifts across the board.