#$2.7 billion in options will expire#

Tomorrow, approximately $2.73 billion worth of Bitcoin and Ethereum options will expire on the Deribit exchange. Of this, 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 is below $96,000 at expiration tomorrow, investors who sold put options will suffer the maximum loss, while those who bought put options will suffer the maximum loss if the price is above $96,000. The logic for Ethereum is similar. Since Ethereum has a lower put/call ratio, it indicates that the market is more bullish on Ethereum, which could lead to a price increase after the options expire. However, the higher put/call ratio for Bitcoin suggests that the market is more bearish on Bitcoin, which could lead to a price decline after the options expire. The ultimate outcome will depend on market sentiment and actual price movements.