Over $11 Billion in Bitcoin and Ethereum Options Expire Today, Market Braces for Volatility

Bitcoin accounts for the bulk of the expiring contracts at $9.79 billion. Ethereum follows with $1.63 billion. These monthly options carry significant weight and could impact short-term price movements, especially with the current market uncertainty.

The maximum pain point—where most losses occur for option holders—stands at $100,000. The put-to-call ratio is 0.89, showing a slightly bullish outlook.

Ethereum has 623,949 contracts set to expire, a huge rise from last week. Its maximum pain price is $2,300, and its put-to-call ratio sits at 0.81. In both cases, call options outnumber puts, suggesting that many traders still expect prices to rise.

However, expirations like this often cause short-term price swings. Bitcoin has already dropped 1.43% to $106,122 today. Ethereum is down 3.43%, now trading at $2,634.

The expiration comes right after the Bitcoin Conference 2025, held in Las Vegas. Analysts say the market is in a holding phase, with traders hedging against possible losses. While Ethereum shows some strength, overall sentiment has turned cautious. Many traders are leaning toward bearish strategies, such as loading up on put spreads, expecting a drop in Bitcoin’s value.