🚀🚀Buckle up, Bitcoin enthusiasts! The crypto market is holding onto its gains, thanks to Ethereum and the US SEC's approval of spot exchange-traded funds. But, here's the twist! Around $1.4 billion in Bitcoin options contracts are set to expire on May 24. 📅💥

While this seems like a big deal, it's actually a small event compared to the $4.3 billion worth of options set to expire at the end of May. The put/call ratio for this week's Bitcoin options contracts is 0.88, which means long and short-contract sellers are pretty evenly matched, with slightly more calls expiring. The max pain point (the price at which most option contract buyers lose their premium) is $67,000. 😱💸

The longs are also dominating in open interest (OI) with around $830 million at the $70,000 strike price. Higher strike prices also have a lot of OI, with around $843 million at $100,000. The $60,000 strike price has the highest amount of OI for put contracts with $388 million. So, the bulls are expecting much higher BTC prices. 🐂💹

In addition to Bitcoin options, there are around 354,000 Ethereum contracts expiring today. These have a notional value of $1.5 billion and a put/call ratio of 0.57 with more calls expiring than puts. Derivatives traders have been speculating on ETH in the run-up to the long-awaited SEC deadline. There is around $515 million in OI at the $4,000 strike price as bulls expect more momentum. 🚀📈

Almost $3 billion in BTC and ETH options will expire today, but the impact on spot markets is usually muted. Total capitalization has dropped 1.3% to $2.68 trillion, primarily due to a 2.3% dip in Bitcoin prices as the asset fell to $67,400. Ethereum faced tons of volatility ahead of yesterday’s decision but now stands calmly at $3,730. 📉📊

The altcoins were a mixed bag with gains for Chainlink (LINK), PEPE, and Ethereum Classic (ETC), but losses for Solana (SOL), Dogecoin (DOGE), and Toncoin (TON). So, will the crypto markets march higher when $1.4B Bitcoin options expire? Only time will tell! ⏰🔮