Roughly $15.9 billion in Bitcoin options are expiring on Deribit, covering about 184,000 BTC contracts, with a combined BTC and ETH expiry totaling approximately $16.53 billion. Bitcoin is trading around $84,000 after retreating from a high above $87,000, with a max pain price between $75,000 and $78,000. A put/call ratio below 1 suggests a mildly bullish positioning, but does not determine where Bitcoin will trade after expiry. Despite weekly gains of around 10%, Bitcoin remains 25% below its level from a year ago and 33% below its all-time high of over $126,000.
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