Bitcoin faces volatility test as Fed decision precedes $6.3 billion IBIT options expiry

Bitcoin is set for a volatility test as the Federal Reserve’s upcoming rate decision coincides with the expiry of approximately 1.47 million options contracts for BlackRock’s iShares Bitcoin Trust ETF (IBIT). With about $6.28 billion in gross underlying share value tied to these contracts, the market is closely watching whether macro-driven price movements will hold against significant dealer hedging and positioning. Data from Cboe indicates that over 37% of open interest is concentrated between the $40 and $45 strikes, making these levels critical for potential price sensitivity.