With $4.2 billion in Bitcoin and over $1 billion in Ether options expiring this Friday, the dynamic is set for potential market volatility as positions are adjusted.
Bitcoin's put-to-call ratio is relatively low at 0.62, reflecting a bullish sentiment as it approaches this month’s options expiry, particularly after nearing $70,000.
The significant portion of Bitcoin options, over $682 million, is set to expire 'in-the-money', suggesting that traders may closely manage their positions to capitalize on profitability.
According to the max pain theory, Bitcoin's maximum pain level is $64,000, indicating that options writers might benefit if BTC's price falls back towards that level.
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