According to online reports, Singapore crypto investment institution QCP Capital said that after the market experienced a wash last week, spot prices remained horizontally volatile. Nearly $20 billion in bitcoin and Ethereum options will expire this Friday, accounting for nearly half of Deribit's total holdings. Option expiration can trigger a quarter-end volatility sell-off, especially if spot prices are sideways and sellers continue to roll short positions. If BTC exceeds US$100,000, the volatility may remain stable, otherwise the altcoin may have a catch-up opportunity. The current market share of BTC is 58%, so it is necessary to pay attention to whether funds flow to altcoins to confirm the trend shift.