TL;DR
- Over $2.2 billion worth of Bitcoin and Ethereum options expire today, potentially increasing short-term market volatility.
- The “maximum pain” price for BTC is set at $82,000, and for ETH, it’s $1,600.
- Despite global uncertainty, technical indicators reflect cautious optimism from investors, reinforcing a crypto outlook for the coming days.
This Friday, April 18, during Good Friday celebrations, more than $2.2 billion in Bitcoin and Ethereum options contracts are set to expire, a factor that could trigger sharp price movements in the hours ahead. While the crypto market appears calm on the surface, historical data suggests that post-expiry periods often bring unexpected and dramatic volatility.
A total of 23,221 Bitcoin options contracts are expiring today, with an approximate notional value of $1.966 billion. The maximum pain point, the price level where the most financial losses occur for option holders, is at $82,000. At the time of writing, Bitcoin is trading above that level, around $84,600, which could lead to downward pressure as prices adjust toward this critical threshold.
On the Ethereum side, 177,130 options contracts are expiring, with a total value of nearly $280 million. The maximum pain level for ETH is $1,600. Both Bitcoin and Ethereum have put-to-call ratios under 1 (BTC: 0.96, ETH: 0.84), typically seen as a bullish signal, suggesting that more traders are betting on price increases than declines in the near future.
Positive Outlook Despite Macroeconomic Uncertainty
Meanwhile, the global macroeconomic environment remains tense. President Donald Trump has been increasing political pressure on the Federal Reserve to lower interest rates, but Chairman Jerome Powell has so far held his ground. Still, the crypto space continues to attract investors looking for a hedge against inflation and instability in traditional markets, further strengthening its position as an alternative financial system.
Post-Expiry: A New Window for Crypto Bulls?
Analysts from “Greeks.live” and “Deribit” point out that while volatility appears suppressed and the options skew remains flat, this could be the calm before a breakout. Historically, price moves are common after major options expiries, especially when current prices deviate from the maximum pain levels.
Events like today’s expiry not only highlight the growing maturity of the crypto derivatives market but also reaffirm the strong institutional and retail interest in Bitcoin and Ethereum. These digital assets continue to stand as the backbone of a new, decentralized financial era, even amid global uncertainty.
