Approximately 149,000 Bitcoin options contracts expire on Friday, July 31, with a notional value of $9.57 billion. The put/call ratio of 0.28 indicates predominantly bullish positions, with max pain near current spot prices around $64,000. Around $25 billion has left the crypto space this week amid macroeconomic caution following the Fed’s decision to keep rates unchanged and the resumption of military tensions between the US and Iran. The combined Bitcoin and Ethereum options expiry reaches approximately $10.4 billion, a substantial event likely to generate increased volatility in the spot market. Bitcoin holds around $64,000 while Ethereum hovers near $1,900, with the market remaining in a consolidation phase for two months.
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