🔥 Crypto Trends Today — September 25, 2026

1. ₿ Bitcoin remains the main focus.
BTC is around $84.4K, after a strong move earlier this week, but it has pulled back from the ~$87K area.

2. 📊 Major options expiry today.
Bitcoin options representing roughly 181,896 BTC are scheduled to expire today, alongside major Ethereum and Solana options expiries. This could contribute to increased market volatility.

3. 🟣 Solana is in focus.
About 65% of Solana options open interest on Deribit is expiring today, with significant positioning around $90, $105 and $125 strikes.

4. 🏦 Stablecoin regulation is a major story.
The U.S. Federal Reserve proposed rules for dollar-backed stablecoins, including requirements around reserve assets and capital.

5. ⚠️ Solana DeFi users should watch the Switchboard transition.
Switchboard is ending its oracle services today, September 25, potentially affecting several Solana DeFi protocols that use its feeds.

Today's big themes: BTC options expiry + SOL options expiry + stablecoin regulation + Solana DeFi.