Bitcoin is holding around $85,000 as approximately $18 billion in BTC and ETH options are set to expire on September 25th, marking the largest expiry by value of the year. Options data shows a bullish bias, with a put/call ratio of 0.76 for Bitcoin and 0.64 for Ethereum. Despite the liquidation of over $400 million in long positions on September 23rd, Bitcoin Spot ETFs attracted more than $350 million in inflows, limiting Bitcoin’s drop to just 2%. Bitcoin’s max pain level sits around $78,000, well below current prices, keeping the October setup valid.
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