Could the $2.5B Bitcoin Options Expiry This Week Influence the Market?

Approximately 27,000 Bitcoin options contracts, valued around $2.54 billion, are set to expire on May 2nd. The expiration's put/call ratio is balanced, with a max pain point at $90,000. The highest open interest lies at the $100,000 strike price, suggesting a bullish shift.

Nevertheless, significant open interest remains at the $80,000 and $65,000 strike prices. Over $2.85 billion in crypto options, including 175,000 Ethereum contracts, will expire, raising the total value to roughly $2.85 billion. Despite the recent volatility decrease, the market outlook appears positive with Bitcoin leading with a 3% weekly increase to $97,340.

Ethereum also made minor gains to reach $1,860, marking its highest level in a month. Other altcoins like Dogecoin, Avalanche, Litecoin, and Hyperliquid are also performing well.