加密货币市场的重大运动括号量超过30亿美元，比特币和以太坊期权今天到期。

该期限包括25925份合同，比上周的26949合同少一些。

Today is a pivotal day for crypto derivatives as more than $3 billion in Bitcoin and Ethereum options are set to expire.

如今，对于加密衍生品来说，这是一个关键的一天，因为比特币超过30亿美元和以太坊期权将到期。

With substantial contracts and maximum pain points identified, how will these expiring options affect the market’s volatility?

通过确定的大量合同和最大疼痛点，这些到期期权将如何影响市场的波动？

Crypto Markets Brace for $3 Billion Options Expiry

加密市场支撑30亿美元期权到期

According to Deribit data, approximately $2.65 billion in Bitcoin options are set to expire today. The maximum pain point for these options is $94,000, accompanied by a put-to-call ratio of 1.05.

根据Deribit数据，今天约有26.5亿美元的比特币期权将到期。这些选项的最大疼痛点为$ 94,000，伴随着1.05的可呼叫比率。

This expiration includes 25,925 contracts, slightly fewer than last week’s 26,949 contracts.

该期限包括25,925份合同，比上周的26,949份合同少一些。

Ethereum also sees the expiration of 164,591 contracts, lower than last week’s 184,296 open interest. These expiring contracts have a notional value of $364.06 million. The maximum pain point for these contracts is $1,850, with a put-to-call ratio of 1.43.

以太坊还看到164,591份合同的到期，低于上周的184,296张公开利息。这些到期合同的名义价值为3.6406亿美元。这些合同的最大疼痛点为1,850美元，可呼叫比率为1.43。

With Bitcoin and Ethereum sales exceeding purchase calls, analysts at Greeks.live cite a predominantly bearish market sentiment.

随着比特币和以太坊销售超过购买电话，希腊人的分析师都引用了一种极为看跌的市场情绪。

“The group seems to be leaning bearish with traders positioning for potential downside moves,” wrote Greeks.live.

Greeks.live写道：“该组织似乎倾向于看跌，交易员定位潜在的下行行动。”

For Bitcoin, this sentiment becomes more apparent with its max Pain level well below its current price of $102,570. Based on the Max Pain theory, prices tend to draw towards these strike prices as the options near expiration.

对于比特币而言，最大疼痛水平远低于目前的102,570美元的最大痛苦水平，这种情绪变得更加明显。基于最大疼痛理论，价格倾向于将这些罢工价格作为接近到期的选择。

Based on this, analysts at Greeks.live note that some traders are watching Bitcoin’s $93,00000 to $99,000 price level. They also cite a lack of enthusiasm about BTC’s foray past the $100,000 milestone.

基于这一点，分析师在希腊语上。Live指出，一些交易者正在观看比特币的93,00000美元至99,000美元的价格水平。他们还列举了对BTC的企业超越100,000美元的里程碑的热情。

“Market described as boring chop with traders looking to capitalize on time decay while maintaining downside exposure,” the analysts added.

分析师补充说：“市场被描述为无聊的碎石，贸易商希望在维持下行曝光的同时利用时间衰减。”

Positioning Skews Bearish, Max Pain Sits Below Price

定位偏斜看跌，最大疼痛位于价格以下

Meanwhile, with put-to-call ratios above one for both Bitcoin and Ethereum, there are more Put options (bearish bets) than Call options (bullish bets). More traders are betting that the price will go down.

同时，比特币和以太坊都高于1的比率，比呼叫选项（Bullish Bets）有更多的PUT选项（看跌赌注）。越来越多的交易者押注价格会下跌。

The histograms in the images above confirm this. The BTC open interest chart shows a significant concentration of option contracts at strike prices below the current BTC price of $102,570, particularly between the $93,000 around $100,000 prices.

上图中的直方图证实了这一点。 BTC开放兴趣图表显示，以行使价格低于当前BTC价格的期权合约的集中度很高，尤其是在93,000美元之间，大约在100,000美元的价格之间。

This clustering of option

选项聚类