Despite ongoing sluggish spot market activity, Bitcoin, the oldest Cryptocurrency, fell more than 6% to under $48,000 during the U.S. trading day on Tuesday. While Bitcoin's spot trading volume remained largely constant from a day ago, price volatility occurred as the market approached monthly options expiration. According to Skew statistics, a total of 129,800 option contracts worth more than $6 billion are slated to expire on Friday.