Bitcoin and Ethereum are on the verge of witnessing significant options expiries amid weak market conditions.

Specifically, on October 11, approximately 18,000 Bitcoin options are set to expire, with a put-call ratio of 0.91. The max pain point for Bitcoin is $62,000, while the total notional value of the options expiring reaches $1.1 billion.

Simultaneously, Ethereum faces the expiry of 212,000 options, with a put-call ratio of 0.4 and a max pain point of $2,450. The notional value of these Ethereum options is $510 million. The impending expiry occurs during a period of overall market weakness. Bitcoin is trading close to the crucial $60,000 level, a price that has become increasingly contested. Ethereum is also hovering near its long-term support line of $2,300.

These levels are drawing attention from traders and analysts as the market seeks to find its next direction. With both Bitcoin and Ethereum in a critical phase, the potential for a market shift is becoming more pronounced.

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