Enormous $11.5B Cryptocurrency Options Set to Expire Today: Could This Trigger Further Market Declines?

Approximately 92,500 Bitcoin options contracts, with an estimated value of $10 billion, will expire on May 30, potentially causing increased market volatility. This batch of contracts has a put/call ratio of 0.87, suggesting a slightly higher number of long contracts than short.

The market's max pain point is at $100,000, $6,000 below current spot prices, indicating where the most significant contract expiry losses may occur. Furthermore, 624,000 Ethereum contracts, worth about $1.62 billion, are also set to expire today, bringing the total value of crypto options expiring to around $11.5 billion.

The current market trend shows a decline, with Bitcoin dropping below $106,000 and Ethereum dipping below $2,600.