Today we're going to see a real move on BTC and ETH. The July 31 options expiry will be the catalyst of the move. Here's what happens after the 08:00 UTC expiry when the pin lifts: The largest OI concentration on each asset sits right at spot: - BTC call wall $64K and put wall $64K, both at the same strike - ETH walls both at $1.9K (39.1K calls, 45.2K puts) - HYPE walls both at $55 (94.6K calls, 116K puts) This is a symmetric wall pin. Dealers who sold those strikes hedge toward them, holding price in a tight range before expiry. Once the contracts expire, that hedging force disappears. A crushed 4 pct vol regime means IV has room to expand in either direction after expiry. The flat term structure says no one is paying for that risk yet. The setup: crushed vol + symmetric pins. Expiry is the release valve. I think straddle strategy looks interesting here. NFA. DYOR.