⏰ Options Expiration Window Warning

At 08:00 Beijing Time today (UTC), the crypto options market will experience a wave of concentrated expirations — options contracts totaling $2.22 billion are about to settle.

Among them, BTC options dominate, with a notional value of $1.84 billion, a put/call ratio of 1.05, indicating a balanced battle between bulls and bears. Notably, the maximum pain point is anchored around $90K — this price level has concentrated support from put options below $85K, as well as gradually accumulating long positions in the $90K–$100K range.

Open interest distribution shows an interesting phenomenon: significant positions are stacked on both sides of the current price. Downward, put options form a defensive line; upward, call options accumulate in a stepwise manner, creating a "riveted" support-resistance zone at $90K. This structure often suggests that prices around expiration are likely to be attracted toward the maximum pain point, and it is important to observe the strategic moves of large funds.