Deribit Data: Bitcoin and Ethereum Options Worth $2.786 Billion Expire Today, $75,000 Becomes Key Resistance Level

According to Deribit's latest data, 34,400 Bitcoin options expire today with a put/call ratio of 1.71 and maximum pain point at $70,000, with a notional value of approximately $2.417 billion.

On the same day, Ethereum expiring options reached 173,900 contracts with a put/call ratio of 1.49, maximum pain point at $2,100, and notional value of $369 million. Combined notional value totals $2.786 billion.

Analysis suggests that as Bitcoin once fell below the $70,000 mark, the current market rally has come to an end. In the previous week, the market widely focused on the $75,000 key resistance level, as this price concentrated 5% of end-of-month option positions.

However, as of now, Bitcoin has still failed to break through this key resistance level, with current prices also retreating to around $70,000.

Meanwhile, quarterly settlement will arrive next Friday. Based on options market data, $75,000 is the price with the most concentrated positions, becoming an absolute resistance level. Below that, $65,000, $62,000, and $60,000 are all dense position areas, which can also be viewed as key support levels during the downtrend.

Based on current options market data, $75,000 has become an important resistance level for Bitcoin. If it proves difficult to break through in the short term, the market is likely to continue consolidating within the $65,000-$70,000 range.

Do you think Bitcoin will break through this key level before quarterly settlement? Or will it further test the support levels? Leave your thoughts and predictions in the comments.

#Deribit # Options Expiration