Bitcoin Price Prediction: $10 Billion of BTC and ETH Option Expiry Hitting the Market Today

The largest single-day options expiry in recent months is clearing today, and the market is already pricing in the friction. Bitcoin price sits at $63,800, hovering just below the $64,000 max pain level as dealers manage delta exposure into settlement in its current bullish prediction. Ethereum trades around $1,890, staying near its own max pain threshold with conviction still absent on both sides.

According to data reported on July 31, 149,000 BTC options expired with a put/call ratio of 0.28, max pain at $64,000, and a notional value of $9.6 billion. Meanwhile, 435,000 ETH options expired with a put/call ratio of 0.63, max pain at $1,850, and a notional value of $830 million. Together, more than $10.4 billion in crypto options were cleared during a single session.