A $2.2 billion options expiration for BTC and ETH has arrived.

Critical Expirations Are Happening Today

Today, a noteworthy development is taking place in the cryptocurrency world; Bitcoin (BTC) and Ethereum (ETH) options with a total value reaching $2.2 billion are expiring. These options traded on the Deribit exchange could have a significant impact on the market.

Bitcoin Situation: Maximum Pain Levels

Bitcoin is trading around $90,900, very close to the $90,000 "maximum pain" level. This situation creates uncertainty among investors while leading to a balanced outlook in the options market.

Ethereum's Bullish Expectations

Ethereum, on the other hand, is trading at $3,113, above the maximum pain level of $3,100. The total BTC options for Bitcoin and Ethereum are approximately $1.89 billion, while ETH options hold a value of $396 million.

Dynamics of the Options Market

On the Bitcoin side, the balance between call and put contracts is noteworthy. With 10,105 call contracts compared to 10,633 put contracts, the put/call ratio stands at 1.05. This symmetrical structure helps market makers enhance their hedging operations and maintain current price levels.

Investor Expectations

On the Ethereum side, there are 67,872 call options and 59,297 put options. The decline in the put/call ratio indicates that investors' bullish expectations are dominant. Deribit analysts point out that buy positions above $3,000 for Ethereum are concentrated and if the price maintains this level, the upward trend could strengthen further.

In light of this information, it is important for Bitcoin and Ethereum investors to closely monitor market movements and shape their strategies accordingly.