Bitcoin Options Expiry Nears $5.76 Billion, Signaling Possible Market Volatility Amid Diverging Sentiment

Key Points

1. Bitcoin options open interest stands at 40,945 contracts valued at $4.91 billion, with a max pain price of $114,000, below the current trading price of ~$120,259.

2. Ethereum's options market has a notional value of $851 million, with a max pain level of $2,950, below its current market price, indicating potential downward pressure.

3. Traders are adopting strategies like selling 30-day put options and buying 30-day calls, reflecting a bullish outlook with downside protection.

4. Historical data suggests this week's larger expiry could amplify volatility, with analysts predicting Bitcoin could reach $150,000 by Q4 or enter a corrective phase.

5. Ethereum’s implied volatility remains high at around 70%, indicating continued market uncertainty despite recent price surges.