The cryptocurrency market is experiencing a major event today—over $4 billion in options are set to expire, involving major assets such as Bitcoin, Ethereum, Ripple (XRP), and Solana (SOL). Traders generally expect another round of significant short-term volatility in the market, and before next week’s Federal Reserve FOMC interest rate decision, the total crypto market cap may fall below $3 trillion again. In the past 24 hours, there have been $270 million in liquidations in the crypto market. Coupled with rising US Treasury yields, Japanese bonds, and gold prices, Bitcoin and major assets have come under downward pressure. Although BTC, ETH, XRP, and SOL saw a brief rebound during today’s session, the overall technical structure remains weak.