Bitcoin and Ethereum Face Key Options Expiry Worth $7B amid Market Downturn
Over $7 billion in Bitcoin and Ethereum options will expire today, setting up traders for possible sharp price swings as both assets hover near critical strike prices.
Bitcoin’s Put-to-Call ratio points to cautious optimism, while Ethereum’s higher open interest shows traders are betting more on its near-term movements.
Corporate treasury buying, especially Strategy Corp’s latest purchase, provides temporary price support during this expiry.
A massive batch of Bitcoin and Ethereum options worth over $7 billion expires today, August 1, which could shape crypto price action through the weekend. Deribit data shows Bitcoin’s max pain price sits at $117,000, slightly above its current price of about $116,000. Ethereum’s max pain is near $3,550, matching its current trading zone and drawing traders’ focus.
Options expiry days often bring extra volatility, as big traders adjust positions to protect profits or limit losses when contracts settle. Bitcoin’s Put-to-Call ratio is 0.79, showing that calls outnumber puts, which usually signals traders lean bullish and expect potential upward momentum. Ethereum’s ratio is closer to 0.91, reflecting a more neutral but still positive outlook compared to recent weeks.
Some expect Bitcoin to hold near the $116,000 level, but a break lower could push it toward $114,000. If selling pressure increases, it may even retest $112,000 before finding solid support again. Analysts at Greeks.live note that the recent pause in rate hikes by the Federal Reserve has added to short-term uncertainty, although some see this as an opportunity to accumulate crypto at lower levels.