Over $3 billion in Bitcoin and Ethereum options are scheduled to expire today.

Today marks the expiration of $3.12 billion worth of Bitcoin (BTC) and Ethereum (ETH) options, which might have an effect on market patterns. Market observers are eager to see if the expiry of Bitcoin’s theoretical value of more than $1 billion would affect the price, as it is still below the $100,000 barrier. Deribit data indicates that there are 26,251 Bitcoin options that are about to expire, with a notional value of $2.56 billion.

With a put-to-call ratio of 0.57, buy options (calls) are more common than sell options (puts).

For these options, the price at which the largest number of holders will experience financial losses is $99,500, which is the maximum pain threshold.

Alongside Bitcoin, 204,376 Ethereum options contracts expire today, with a notional value of $557.04 million. These options have a maximum pain point of $2,950 and a put-to-call ratio of 0.46.

The quantity of expiring options has significantly decreased as compared to the data from the previous week. 80,179 Bitcoin and 603,426 Ethereum options expired last week, bringing the total expiry to almost $10 billion.

The options from last week, which reflect the entire month’s expirations, are the source of this little discrepancy. As a result, there were more than $10 billion worth of options that expired last week.
These economic announcements, which may have an impact on trade patterns, are being actively watched by market analysts. Positive payroll figures may cause people to turn back to more conventional asset classes, which might lessen the allure of cryptocurrencies. Conversely, a rise in unemployment would stimulate interest in Bitcoin as a hedge against economic uncertainty.

The whole market capitalization, which is still inside the bottom confines of a range-bound channel that developed in mid-November, has dropped a little under 2% on the day to $3.3 trillion.

Things you should be aware of
Bitcoin had a minor recovery, hitting $97,400 in the early hours of Friday morning trade after plunging below $96,000 at an intraday low during late Thursday trading. The asset has lost 7% from the same period last week, continuing its downward trajectory.

Ethereum also had trouble, dropping 3% to below $2,700 in the early hours of Friday and finding it difficult to recover.

Only Tron (TRX) broke the trend with a 4.5% rise for the day, as the altcoin market stayed mostly down.
TRON (TRX), supported by strong ecosystem growth, became a rare outperformer amid market turmoil. On the other hand, XRP saw a drop of more than 3%, closing at $2.36 following an intraday low of $2.29 and a high of $2.46. Given that 520 million XRP tokens were acquired during the collapse, significant whale activity points to a possible comeback despite the downturn. According to analysts, this may indicate a short-term recovery over $3.

Separately, the CBOE stock exchange submitted multiple 19b-4 applications for exchange-traded funds (ETFs) linked to XRP to the U.S. Securities and Exchange Commission (SEC), which may have an impact on future price movements.
Over the last day, Solana (SOL) has traded between $188.17 and $203.89, registering a 3.59% decline to $194.27.