- Over $3 billion in Bitcoin options are expiring today, intensifying market pressure as BTC trades below the max pain price of $107,000, with short sellers gaining the upper hand.
- Despite this, strong spot and ETF inflows suggest long-term investors are holding firm, potentially setting the stage for a recovery after the expiry.
The crypto market is bracing for impact as over $3.04 billion in Bitcoin options expire today, raising fears of intensified selling pressure and another round of crypto carnage. With a Max Pain Price of $107,000 and Bitcoin trading below that at $104,682, the market is already on edge. Can spot and ETF buyers step in before it’s too late?
Bearish Pressure Mounts as Options Expire
The Put/Call Ratio of 0.95 indicates a market leaning slightly bullish, with more traders holding calls than puts. However, being below the Max Pain level means most options traders are currently in the red—fueling a shift toward hedging or profit-taking through increased selling.
Data from AMBCrypto confirms a significant uptick in bearish positioning. In just 24 hours, Options Open Interest (OI) jumped 3.88% to $46.06 billion, while Trading Volume spiked over 107% to $7.06 billion. These surges in activity suggest a market bracing for volatility, if not outright downside.
Also read: XRP Supply Crunch Looms as Trident Digital Plans $500M Reserve, Wealth Manager Warns Retail Investors
$422 Million in Long Liquidations
Futures markets are echoing this bearish tone. Over the past day, $422.89 million in long positions were liquidated, compared to just $28.63 million in shorts. The Long/Short Ratio of 0.929 underscores sellers’ dominance and signals potential further losses unless sentiment quickly shifts.
Spot and ETF Buyers Refuse to Back Down
Despite the options drama, spot and traditional investors are showing resilience. Inflows into exchanges totaled $150.70 million in 24 hours, and Bitcoin ETFs saw nearly $1 billion in cumulative inflows over three days. These large buy-ins hint at confidence among long-term holders and institutional players.
Still, with Bitcoin hovering below key resistance and options expiry looming, a sharp rebound appears unlikely in the short term. The real test will come after the dust settles—can bulls wrest back control, or will short sellers deepen the wounds?
While traditional and ETF buyers are making a stand, the expiration of billions in BTC options could temporarily tip the balance in favor of the bears. Keep your eyes on post-expiry market behavior—because what happens next could set the tone for the rest of June.