According to @rovercrc, Bitcoin (BTC) has been confined within a tight 10% trading range, approximately between $101,000 and $111,000, for 40 consecutive days. This prolonged period of consolidation has pushed 30-day realized volatility below 30%, indicating trader restlessness. A significant event for traders is the upcoming quarterly options expiry, which is one of the largest of the year. Jean-David Péquignot of Deribit highlights that with $40 billion in total BTC options open interest, 38% of these contracts will expire this Friday. The max pain price for this event is identified at $102,000, with a put/call ratio of 0.73. Péquignot also notes that the $105,000 level is pivotal for BTC's price, and the current low implied volatility suggests limited expectations for sharp price moves leading into the expiry. The lack of a breakout in Bitcoin has negatively impacted the broader altcoin market, with a major index of the top 20 digital assets trailing BTC by about 5% over the past month.