🚀Bitcoin enthusiasts, buckle up! Approximately 21,800 Bitcoin options contracts, with a notional value of around $1.33 billion, are set to expire this Friday, April 19. 📉Despite the crypto market's recent downturn, Bitcoin's resilience is noteworthy, maintaining its psychological price level of $60,000.

📊Today's expiring BTC contracts have a put/call ratio of 0.63, indicating a dominance of call (long) contracts over puts (shorts). Bulls seem to be ruling the roost in the derivatives market with the most open interest at the $80,000 strike price, according to Deribit.

🔮Crypto derivatives tooling provider Greeks Live noted that despite the market's "extreme panic" this week, with BTC losing $60,000 and ETH losing $3,000, major term options implied volatility is falling significantly.

🐂"With Bitcoin’s long strength still intact and halving just this Saturday, the bulls still need Bitcoin to lead this month," it added.

💰Alongside Bitcoin's options expiry, 297,000 Ethereum options contracts will also expire. These have a notional value of $960 million and a put/call ratio of 0.42 as longs vastly outnumber shorts.

📉The total market capitalization has remained flat at $2.37 trillion, but markets have started to turn south again. Bitcoin dipped sharply to $60,000, where it found support again and bounced back to $62,000 within an hour.

🔮The question remains: Can BTC hold above $60K with $1.3B Bitcoin options set to expire? Only time will tell! 🕰️