As the first monthly options expiry of 2026 approaches, over 25% of options positions are set to expire. The Federal Reserve has maintained interest rates, and with no major events impacting the market, conditions remain stable. Implied volatility continues to decline. Bitcoin has retreated to its trading range, facing strong resistance at $90,000 and support at $86,000. Market expectations for volatility are decreasing, with no clear catalysts for a breakout. Institutional inflows into exchanges have increased liquidity pressure, while crypto-related stocks show weakness. Market sentiment is turning pessimistic, with rising concerns and FUD.