Bitcoin Looks More Bullish Than Ethereum as $4 Billion Options Expire Today

Approximately $3.9 billion in Bitcoin and Ethereum options contracts are set to expire today on Deribit, with market positioning indicating cautious optimism despite sharp price drops earlier in the week. Bitcoin's open interest shows a strong call bias with a put-call ratio of 0.52, suggesting traders expect upside, even though the max pain price is $98,000, significantly above the current trading price of $86,195. Ethereum also shows a preference for calls (ratio of 0.72) over puts, with focus on strikes at $2,900 and $3,100, and a max pain price of $3,200. Analysts noted that light downside hedging suggests traders view the recent dip as a correction rather than a bear market, though volatility may persist.

(Source：BeInCrypto)