Another Friday has rolled around, which means another batch of crypto options are expiring while spot markets retreat from New Year highs.
Another Friday has rolled around, which means another batch of crypto options are expiring while spot markets retreat from New Year highs.Spot markets started the week on a high, and momentum built to a seven-week high market cap of $3.
3 on Wednesday, but it failed to continue, resulting in another pullback.This week’s small batch of Bitcoin options contracts has a put/call ratio of 1, meaning that calls and puts are evenly matched. Max pain is around $90,000, according to Coinglass, which is pretty close to the current spot prices, so many will be in the money on expiry. Open interest , or the value or number of Bitcoin options contracts yet to expire, remains highest at $100,000, which has $1.8 billion at this strike price on Deribit. There remains around $1.2 billion in OI at $75,000, $80,000, and $85,000 as bearish bets mount up.“BTC options traders kick off 2026 leaning bullish. The January $100,000 call option is the most popular bet, with a notional open interest of $1.45 billion,”BTC open interest brackets spot, with heavy puts below $85K and calls building from $90K to $100K, creating pin risk…How Will Markets React When $2.7B Bitcoin Options Expire Today? In addition to today’s batch of Bitcoin options, around 123,000 Ethereum contracts are also expiring, with a notional value of $384 million, max pain at $3,100, and a put/call ratio of 0.89. Total ETH options OI across all exchanges is around $7.9 billion. “ETH call positioning is concentrated above $3k. If spot holds above max pain, post-expiry positioning may leave dealers more reactive to upside continuation,” said Deribit.Crypto markets have fallen back in the second half of this week, with the total cap currently at $3.19 trillion. Bitcoin fell below $89,500 briefly on Thursday before recovering to reclaim $91,000 during the Friday morning Asian trading session. However, it Ether prices have held steady above $3,000, reclaiming the resistance zone at $3,100 on Friday morning. Altcoins were predominantly in the red at the time of writing, with heavier losses for XRP, Dogecoin, and Zcash.Martin has been writing on cybersecurity and infotech for over two decades. He has previous trading experience and has been covering developments in the blockchain and cryptocurrency industry since 2017.North Korea, Russia, and Stablecoins Fuel $154B Illicit Crypto Surge: Chainalysis
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