🚀 Heads up, crypto enthusiasts! A whopping 107K Bitcoin options contracts are set to expire this Friday, with a notional value of $6.6 billion. Expect a bit of market turbulence as this is an end-of-month expiry event.

📊 The put/call ratio is 0.5, meaning twice as many long contracts are expiring as shorts. The max pain point is $57,000, around $4,000 lower than current spot prices.

💪 Bulls are still in control, with more than $340 million in open interest at higher strike prices of $70K, $75K, and $80K. Total OI ramps up to $590 million at $90K and $770 million at the $100K strike price.

📉 Despite the market's volatility, the implied volatility didn't show a significant rise, with BTC below 50% IV for all major terms.

🌐 In addition to Bitcoin, around a million Ethereum options are also expiring. These have a put/call ratio of 0.59, a max pain point of $3,100, and a notional value of $3.6 billion.

📈 The total crypto market cap has recovered a bit, hovering around the $2.4 trillion mark. BTC topped $62,000 on June 28, while ETH prices also recovered from their five-week low of $3,260.

What are your thoughts on this? Will the expiry cause a market dip or will the bulls continue to charge? Share your predictions below! 👇 #Bitcoin #Ethereum #CryptoMarket