Some 135,000 BTC worth $10.9 billion are covered by Deribit options contracts expiring today at 8 AM UTC. The 0.53 put/call ratio indicates that calls outnumber puts by nearly two to one, while max pain sits at $78,000, close to Bitcoin’s current price. Bitcoin fell to $76,000 following a $6.3 billion hack on Binance before recovering above $78,000; it is down 6% over the past month and roughly 38% below its all-time high of more than $126,000. A total of $11.67 billion in crypto options are expiring, including $776 million in Ethereum contracts, and analyst Dennis Liu estimates Bitcoin’s trading range for today’s expiry between $77,600 and $82,400.
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