The largest Bitcoin options expiry in history is taking place, with a total of $18 billion worth of Bitcoin and Ethereum options contracts expiring. This is four times more than the previous week for Bitcoin and 4.5 times higher for Ethereum. The total value of expiring options for Bitcoin is $14.38 billion and for Ethereum is $3.7 billion. The expiring options have a maximum pain price of $85,000 for Bitcoin and $3,000 for Ethereum. The put-to-call ratio for Bitcoin is 0.69, indicating increased hedging sentiment, while the ratio for Ethereum is 0.41, reflecting growing bullish sentiment. The market is closely watching this expiry to determine the narrative heading into 2025.



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