About 26,000 Bitcoin contracts expire on June 5 with a $1.6 billion notional value. Ether adds 153,500 contracts worth $266 million, bringing the total crypto options expiry to nearly $1.85 billion. However, the event remains smaller than last week’s month-end batch, and traders assess its near-term market impact.
Bitcoin options show a 0.56 put-to-call ratio, indicating more call positioning than puts. Max pain stands near $71,000, which sits about $8,000 above current spot levels. Consequently, many contracts could expire out of the money if prices remain weak.
Open interest remains highest at the $80,000 strike on Deribit with $1.6 billion. Meanwhile, traders hold $1.1 billion in open interest at the $60,000 strike. Total Bitcoin options open interest across exchanges has declined to $31.6 billion, according to Coinglass.
BTC traded near $61,300 after a sharp weekly selloff and heavy liquidations. Deribit stated that positioning still skews to calls despite the decline. It added that BTC trades around $8,000 below max pain after $1.5 billion in liquidations this week.
Options Expiry Alert
At 08:00 UTC tomorrow, ~$1.81B in crypto options are set to expire on Deribit.$BTC: $1.56B notional | P/C: 0.56 | Max Pain: $71K$ETH: $252M notional | P/C: 0.97 | Max Pain: $2KBTC spot is trading ~$8K below max pain after a brutal week that saw… pic.twitter.com/qmXv8uhHFr
— Deribit (@DeribitOfficial) June 4, 2026
Crypto markets have lost more than $300 billion in total value this week. Military strikes between the US and Iran continued as inflation pressures rose. As a result, risk assets weakened while Bitcoin fell over 50% from its peak.
Ether options total 153,500 contracts expiring with a $266 million notional value. Max pain for ETH stands at $2,000 with a 0.97 put-to-call ratio. Total ETH options open interest across exchanges holds near $5.7 billion.
Greeks Live said, “With the price breaking below $70K, bears have become more aggressive.” It reported rising put positions at $68K, $65K, and $60K strikes. Therefore, traders adjusted hedges as BTC slipped under key levels.
Ether dropped to a 14-month low near $1,730 and has not recovered strongly. Bitcoin also remains at the lower boundary of its range channel. Total crypto market capitalization declined to $2.26 trillion, a four-month low.
The combined crypto options expiry of $1.85 billion remains smaller than recent peak events. However, traders monitor spot reactions as contracts settle through Friday. BTC traded near $61,300 on Friday morning, while ETH held close to $1,730.
The post Crypto Options Worth $1.8B Expire Amid Market Drop appeared first on CoinCentral.
