Today could be a historic day. The simultaneous closing of trillions of dollars worth of derivatives could cause severe market volatility. According to Goldman Sachs data, approximately $7.1 trillion in nominal options exposure is currently expiring, surpassing all previous records.

The crypto market is also feeling this pressure. Recently, Bitcoin traded near $77,600, Ethereum around $2,330, XRP at $1.40, and Solana at $85.13. Looking at past data, during such events, Bitcoin usually remains subdued before experiencing sharp declines. After a similar incident last September, Bitcoin dropped from $177,000 to $108,000.

What’s more interesting is that it’s not just today. In one week, on March 27, $13.5 billion worth of crypto derivatives on Deribit will also expire. The Fear and Greed Index is at 30, in the fear zone. When trader positions are examined, there is a shift toward volatility strategies rather than strong directional bets. This indicates that the market is preparing for ongoing turbulence. In short, the coming weeks are unlikely to be quiet.