Approximately $2.96 billion in Bitcoin options are set to expire tomorrow, potentially driving significant market volatility as prices gravitate toward the max pain level of $107,000. This event coincides with heightened geopolitical risks and weakening technical indicators.
Simultaneously, $678 million in Ethereum options will expire, displaying a bearish put-to-call ratio of 1.23 that reflects cautious trader sentiment. Bitcoin’s technical outlook shows concerning signals, with prices dipping below the 20-day moving average and the Relative Strength Index (RSI) falling under 50, indicating fading bullish momentum.
Geopolitical instability, including Israel’s military actions against Iran, has already contributed to a 7% contraction in the total cryptocurrency market capitalization. Critical Bitcoin price levels to monitor include resistance at $101,000—a potential short-squeeze trigger—and support zones between $97,800 and $95,000.