Bitcoin and Ethereum Fell Short of $14 Billion Institutional Expectations!

The crypto market witnessed one of the largest options expiration dates in history. According to data provided by option data provider Greeks.live, a massive amount of options expired today. The data revealed that the expiration of 35,000 Bitcoin options, which have a conceptual value of $9.5 billion, ended with a 0.85 Put Call Ratio and a maximum pain level of $51,000. Additionally, the expiration of 1.58 million ETH options, which have a conceptual value of $5.6 billion, ended with a 0.63 Put Call Ratio and a maximum pain level of $2,600. These options, valued at around $15 billion, marked the biggest expiration in crypto history. The majority of these options were short positions, indicating institutional investors’ failed bearish expectations. As options markets are mainly dominated by institutional investors, it reflects the market expectations of those actors rather than retail investors.