The crypto market may see strong price swings today as Bitcoin and Ethereum options worth nearly $2.4 billion are set to expire. With the crypto market already under pressure, traders are closely watching key levels, including Bitcoin’s max pain at $70,000 and Ethereum’s at $2,050, which could influence short-term price movement.
According to the latest data from Derbit exchange, around 30,012 Bitcoin contracts, including 18,920 call contracts and 11,092 put contracts, are set to expire today, with a total notional value of $2.00 billion.
Meanwhile, the current put/call ratio stands at 0.59, showing that more traders are betting on the Bitcoin price to rise.
The most important level to watch is the Bitcoin max pain price at $70,000. Currently, the Bitcoin price is trading near $67,772, slightly below the max pain level.
If Bitcoin moves closer to $70,000, it could reduce payouts for option holders and stabilize market pressure. However, if Bitcoin falls further below this level, bearish momentum could increase.
Alongside Bitcoin, Ethereum is also seeing a major expiry event, with 205,585 contracts worth approximately $404.5 million ethereum option expiring today. The put/call ratio is 0.75, indicating slightly bullish market sentiment.
Ethereum’s max pain price stands at $2,050, while the current Ethereum price is around $1,955. This suggests Ethereum could see upward pressure toward the $2,050 level as expiry approaches.
Ethereum options expiry data shows 117,410 call contracts and 88,175 put contracts, confirming that most traders expect price strength.
Options expiry events often increase short-term volatility because traders adjust their positions before settlement. Looking at last week’s options expiry on February 13, 2026, over $3 billion worth of Bitcoin and Ethereum contracts expire.
Following the expiry, Bitcoin price rose nearly 4% to $69,395, while Ethereum gained around 5.4% to reach close to $2,060.
Compared to last week, this week’s $2.4 billion expiry is smaller in size. This usually means lower market pressure and reduced volatility.
However, based on last week’s rally, if market sentiment remains strong, Bitcoin and Ethereum could still see a short-term price recovery after the expiry.
Bitcoin and Ethereum options expiry is when crypto options contracts settle on a set date, often causing short-term price swings.
Options expiry can trigger short-term volatility as traders close or roll positions, often pulling prices toward key “max pain” levels.
Yes, large expiry events can cause short-term volatility and price swings as traders buy or sell assets to close or roll over their positions before settlement.
No. Expiry increases volatility, but direction depends on sentiment, liquidity, and broader market conditions.
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