The cryptocurrency market is currently witnessing significant volatility, especially with the expiration of $1.6 billion worth of Bitcoin and Ethereum options on September 13, 2024. This event involves 23,000 BTC and 127,000 ETH options, which is likely to cause volatility in the market. Analysts point out that Bitcoin’s “maximum pain point” (the price at which most options expire worthless) is $58,000, while Ethereum’s is $2,400. This suggests that there could be price movements around these levels in the next few days.

Currently, Bitcoin is trading at around $58,200, up more than 3.5% over the past week, which suggests some positive momentum. However, the expiration of large options contracts could lead to further price swings.

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