📊 $2.2B in $BTC & ETH Options Expire Tomorrow — Markets Brace for Volatility
💼 Around $2.2 billion worth of Bitcoin and Ethereum options are set to expire on Deribit at 08:00 UTC tomorrow. The expiry comes as markets await a Supreme Court ruling on Trump-era tariffs, creating a mix of macro uncertainty and derivatives-driven pressure that could shape short-term price action.
🟠 Why $BTC May Stay Below $90,000
Bitcoin dominates the expiry with roughly $1.84B in notional value. The put-to-call ratio near 1.05 signals a cautious but slightly optimistic stance. Max pain sits around $90,000, while a large cluster of put options is positioned below $85,000.
📌 Call interest is building between $90,000–$100,000, increasing pin risk around the $90K level. This setup often keeps spot prices near max pain until contracts settle, suggesting BTC may remain range-bound until expiry. Historically, sharper moves tend to follow once options pressure is removed.
🟣 Ethereum Options Point to Post-Expiry Strength
$ETH options paint a more constructive picture. About $384M in notional value is expiring, with a put-to-call ratio of ~0.89, indicating stronger bullish positioning. Max pain is near $3,100, with calls concentrated above $3,000.
🚀 If ETH holds above the max-pain level, shifting hedging dynamics after expiry could support further upside. Despite options-related pressure, Ethereum has held key levels — increasing the likelihood of a continuation higher once expiry passes.
