#$2.7 billion in options expire tomorrow.#

Bitcoin and Ethereum options worth approximately $2.73 billion are set to expire on Deribit exchange tomorrow (UTC time 08:00). Of these, Bitcoin options have a notional value of $2.09 billion, with a put/call ratio of 0.95 and a maximum pain point of $96,000; Ethereum options have a notional value of $639 million, with a put/call ratio of 0.31 and a maximum pain point of $3,200. This means that if the price of Bitcoin falls below $96,000, or the price of Ethereum falls below $3,200, investors holding put options will receive the maximum profit, while investors holding call options will receive the maximum profit if the opposite happens. As Bitcoin's put/call ratio is close to 1, it suggests a split market sentiment about the future price movement, while Ethereum's lower put/call ratio indicates a more optimistic market outlook on Ethereum's future price movement. Therefore, analysts believe that Bitcoin may remain range-bound in the short term, while Ethereum may be biased towards the upside.