Crypto Market Faces Pullbacks Ahead of $23 Billion Options Expiry
- Bitcoin options worth $17.07 billion are set to expire on Deribit, with a put-call ratio of 0.75 indicating bearish sentiment.
- The max pain price for Bitcoin is at $110,000, significantly lower than its current market price of $111,970.
- Ethereum options worth $5.33 billion are also expiring, with a put-call ratio of 0.76 and a max pain price of $3,700 against a market price of $4,018.
- XRP has over $83 million in options expiring, with a max pain price at $2.80 and trading currently at $2.85.
- Solana’s options expiry involves more than $217 million, with a max pain price of $195 and current trading down by about 2%.
The upcoming expiry is contributing to rising selling pressure across major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana. Increased long liquidations and macroeconomic factors such as climbing Treasury yields are influencing trader sentiment.
With Bitcoin’s max pain price set at $110,000 amidst bearish positioning in the options market, traders are preparing for potential volatility ahead of the expiry.(Source)
