Watch out for today's major derivatives settlement in crypto markets. We're looking at roughly $2.2 billion in notional value expiring across Bitcoin and Ethereum options—this marks the first significant settlement of 2026.

Here's the breakdown: Bitcoin options account for approximately $1.87 billion of that figure, while Ethereum sits at around $396 million. The bulk of these contracts will settle around 08:00 UTC, making it a concentrated event that could influence price action and trading volume throughout the day.

For active traders, this kind of options expiration typically brings increased volatility as positions get liquidated and funding rates adjust. Keeping an eye on the settlement time helps you anticipate potential market moves and manage risk accordingly. Whether you're long or short, understanding when these derivative expirations hit can give you an edge in positioning your trades.