#Will BTC Hit a New High?#   More than $3 Billion in Bitcoin and Ethereum Options Expire Today: Bustling Weekend Is Coming.

The cryptocurrency market is preparing for significant moves as more than $3 billion worth of Bitcoin and Ethereum options expire today.
With key contracts and maximum pain points identified, how will these expiring options impact the volatility of the market?
Cryptocurrency Markets Are Preparing for a $3 Billion Option Maturity
According to data, Bitcoin options worth approximately $2.65 billion will expire today. The maximum pain point for these options is $94,000 and the put-to-call ratio is 1.05.
This expiration includes 25,925 contracts, slightly less than last week's 26,949 contracts.
Ethereum is also seeing 164,591 contracts expiring, which is down from last week's 184,296 open positions. The nominal value of these expiring contracts is $364.06 million. The maximum pain point for these contracts is $1,850, with a put-to-call ratio of 1.43.
While Bitcoin and Ethereum sales exceeded buy calls, analysts noted a predominantly bearish market sentiment.
It appears to be in a downtrend, with traders positioning for potential downside moves.
For Bitcoin, this sentiment becomes more evident as its maximum pain level is well below its current price of $102,570. According to Maximum Pain theory, prices tend to retreat towards these strike prices as options expire.
Based on this, analysts noted that some traders are eyeing Bitcoin's $93,000 to $99,000 price level. They also expressed that there is a lack of excitement about BTC surpassing the $100,000 threshold.
'The market is described as a dull swing with traders looking to take advantage of the timeout, but maintain downside exposure,' analysts added.
Positions Shifted to Bear Market, Below Maximum Painful Price
Meanwhile, the put-to-call ratios for both Bitcoin and Ethereum are above one, indicating that there are more Put options (dish bets). More traders are betting that the price will fall.
The histograms in the images above confirm this. The BTC open interest chart shows significant option contract concentration at strike prices below the current BTC price of $102,570, particularly between prices of $93,000 and $100,000.
The clustering of option contracts at these lower strikes indicates that traders are positioning for a potential price decline and therefore bearish.
This comes in anticipation of a volatile weekend that could threaten Bitcoin's upside potential. Envoys from China and the United States will meet for trade talks in Switzerland over the weekend.
However, concerns remain about the risk of a collapse in tariff talks. This meeting will be the first official trade meeting since President Trump increased tariffs on Chinese imports to 145%.
However, Treasury Secretary Scott Bessent stated that the United States is not considering leaving. Meanwhile, in a statement on Thursday, the Chinese Embassy in Washington said it would not tolerate any attempt to pressure or coerce China.
China is determined to protect its legitimate interests and defend international justice and fairness. The general perception is that Beijing is deeply suspicious of US intentions.
‘In any potential dialogue or meeting, if the United States does not correct its unilateral tariff measures, this will demonstrate a complete lack of sincerity and further undermine mutual trust. Saying one thing and doing another, or trying to use the talks as a cover for pressure and blackmail, will not work with China,' the Chinese Embassy in the US stated.
With neither side offering concrete concessions ahead of the meeting, cryptocurrency traders fear the summit could end in another diplomatic stalemate.
In this context, any hint of a climb could act as a volatility catalyst that could derail Bitcoin's upside potential. On the other hand, a positive development at the meeting could provide positive tailwinds for Bitcoin, such as when Trump announced a major deal with the UK.