22,000 Bitcoin Options to Expire Amid Flat Market Conditions

A total of 22,000 Bitcoin (BTC) options, with a Put/Call ratio of 0.84, are set to expire, carrying a notional value of $1.83 billion and a max pain point of $85,000

A total of 22,000 Bitcoin (BTC) options are set to expire today with overall market activity remaining subdued and the apex coin struggling to move past the $84,000 resistance, rendering a max pain point of $85,000, according to data from Deribit.

The crypto market saw a decline in market activity with the total number of option deliveries dropping by nearly 50% over the last week.

Moreover, short-term implied volatility (IV) saw a sharp decline, falling below 50% across the board for BTC, ahead of today’s Bitcoin options expiry.

The data shows that institutional options market makers are ramping up selling activity while tightening implied volatilities, signaling the expectations of a short-term sideways movement for Bitcoin ahead.

However, despite the recent initial thrust following the FOMC meeting, BTC price failed to break past the $84,000 resistance, indicating that bulls have not yet mustered enough strength for a rally.

As the impact of the Trump tariff war on the US equity market intensifies, President Donald Trump has urged the US Federal Reserve to announce rate cuts.

Crypto market veterans like Arthur Hayes expect the Fed rate cuts to come by April which could push the Bitcoin price even higher.

Crypto analyst Ali Martinez has highlighted pivotal support and resistance levels for Bitcoin (BTC) using pricing bands. He noted:

"If support at $44,000 is lost, the next level to watch on the downside is around $33,000, a region that previously offered resistance in 2022. Conversely, if resistance at $112,000 is overcome, the next upside target appears at around $128,000, a zone that stalled rallies in late 2022 and early 2023."

BTC’s daily trading volume has dropped by 31% to $25 billion. It will be interesting to see whether BTC resumes the uptrend in the near time.

On Thursday, March 20, Bitcoin spot ETFs recorded a total net inflow of $166 million, accumulating a seven-day rolling sum of $644 million, according to data from Farside Investors.

The latest round of inflows saw BlackRock’s IBIT leading the surge with the highest single-day net inflow among Bitcoin spot ETFs at $172 million.

This was followed by Invesco’s IVC with an inflow of $158 million and Bitwise’s COIN at $144 million.

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