Today, about 38,500 Bitcoin options contracts worth $3.4 billion are set to expire, making it a significant event for the cryptocurrency market. The put/call ratio is 0.84, indicating a slight preference for longs. Despite a strong week for the market, analysts warn of a potential correction after the strongest rally in eight months.

Additionally, 189,000 Ethereum contracts are set to expire, bringing the total value to about $4 billion. Despite the slight pullback, the total market capitalization remains above $3 trillion. The combination of rising spot prices and strong derivatives activity suggests continued upside potential. 📈