
About 19,000 Bitcoin options worth $1.2 billion and 123,000 Ethereum options worth $230 million expired on July 17, according to Greeks.live. Bitcoin options had a 0.9 put-call ratio and a $63,000 maximum pain level, while Ethereum’s put-call ratio reached 1.61 with a $1,800 maximum pain level. Despite the large expiry, Bitcoin has remained in the $60,000–$65,000 range for over a month. Traders are now watching positioning and volatility for clues on the next market move.
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