Bitcoin's market capitalization has seen a dramatic $500 billion reduction over six weeks, with no clear catalysts for recovery. Despite this, Bitcoin's volatility has increased, marking a shift from the stability seen since ETFs began influencing the market. Recent data shows Bitcoin's implied volatility rising, even as spot prices fall, suggesting a potential market breakout. Wall Street is leveraging this volatility to maximize year-end profits, with significant options activity noted on platforms like Deribit. As of November 22, 2025, major open interest trades include put and call options with substantial notional values, indicating a strategic focus on volatility-driven gains. This trend mirrors past patterns where volatility spikes led to significant price movements, highlighting the potential for another upward surge driven by options trading.