Approximately $1.8 billion worth of Bitcoin options expire today, potentially leading to short-term market volatility

It is reported that a new round of options expiration will occur in the crypto market today. Data shows that about 21,700 Bitcoin option contracts are set to expire, with a notional value of approximately $1.8 billion. The scale has decreased compared to previous weeks, reflecting a moderate level of activity in the current derivatives market.

Structurally, this cycle's options are predominantly bullish contracts, with a put/call ratio of about 0.75, indicating more call options. The "maximum pain" price for options is around $92,000, meaning that if BTC price moves far from this range, some contracts will settle at a loss.

Open interest is mainly concentrated around $85,000, $90,000, and $100,000, showing that these levels remain key areas of battle between bulls and bears.

Meanwhile, Ethereum also has about $346 million in options expiring, with the maximum pain point at $3,250. The overall structure is similarly slightly bullish.

However, from the spot market performance, short-term sentiment appears weak. Bitcoin remains volatile below $90,000, Ethereum has fallen below $3,000, and most mainstream altcoins are also retracing. Analysts believe that around the options expiration dates, market volatility may be amplified, but this is unlikely to change the medium-term trend.

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