Bitcoin and Ether options contracts worth $4.2 billion and $1 billion, respectively, are set to expire on Friday. The Bitcoin options market has a higher put/call ratio than Ether, indicating a more bullish sentiment. The expiration of in-the-money Bitcoin options could lead to market volatility as holders close their bets or adjust positions. The max pain level for Bitcoin is $64,000, suggesting a potential downside for the cryptocurrency. The options market is still relatively small compared to the spot market, but it is expected to grow as more institutions participate. The recent approval of options tied to spot Bitcoin ETFs by the U.S. SEC is seen as a game-changer for the market.



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