🚀🚀 Get ready, BTC enthusiasts! The crypto markets have been pretty chill recently, trading sideways with a tiny mid-week dip. But hold on to your hats, because we're about to see some action! 💥💥

On May 10, approximately 18,280 Bitcoin options contracts are set to expire. This could stir up some volatility in the market. The notional value of these expiring contracts is around a whopping $1.15 billion, according to Deribit. 📈📈

The put/call ratio for this week's BTC options is 0.64, meaning more long contracts are expiring than shorts. The longs are also ruling the roost in open interest (OI) with almost $700 million at the $70,000 and $100,000 strike prices. 🎯🎯

But wait, there's more! The OI for put contracts is also starting to rise, with around $360 million at the $50,000 strike price. Overall, the OI for Bitcoin call options is more than double the OI for put options, indicating a bullish trader sentiment. 🐂🐂

Trading firms like QCP Capital and Paradigm have noticed a renewed demand for upside call options. Some buyers are even closing existing positions to roll into higher strike calls expiring in July and September. 🔄🔄

Besides Bitcoin, 276,000 Ethereum contracts are also set to expire. These contracts have a notional value of around $840 million and a put/call ratio of 0.74. Ethereum derivatives traders seem to be bullish too! 🚀🚀

As for the crypto market outlook, it's gained 2.1% on the day to reach $2.45 trillion in total capitalization. Bitcoin dipped below $61,000 on May 9 but has bounced back to tap $63,000 during the Friday morning Asian trading session. 🌏🌏

So, buckle up, BTC lovers! It's going to be a wild ride! 🎢🎢