Bitcoin (BTC), the top cryptocurrency based on market value and trading volumes, is usually known for its stability compared to other digital assets. However, in recent times, bitcoin has shown higher volatility than ether (ETH). Data indicates that Bitcoin’s 30-day historical volatility has surged to almost 60%, surpassing Ether's volatility by approximately 10 percentage points. This marked the biggest spread in volatility in at least a year, as tracked by Paris-based Kaiko. The volatility surge in Bitcoin may be attributed to the upcoming reward halving event in the Bitcoin blockchain, which is set to reduce the pace of BTC emission per block. This has led to heightened trader interest in Bitcoin, with inflows from spot ETFs driving up bitcoin volatility. Conversely, the possibility of the SEC approving an ETH ETF by May has decreased, dampening enthusiasm among Ether traders. The upcoming halving event for Bitcoin, combined with bullish market positioning, raises the possibility of a "sell-the-news" pullback post-halving. Traders are closely monitoring Bitcoin’s options market, which is pricing in the volatility expected around the halving.